MIRA
INFORM REPORT
|
Report Date : |
15.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTAN POLYAMIDES AND FIBRES LIMITED |
|
|
|
|
Registered
Office : |
1004, Peninsula Tower, Peninsula Corporate Park, Ganpatrao Kadam Marg,
Off. Senapati Bapat Marg, Mumbai – 400013, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.02.1965 |
|
|
|
|
Com. Reg. No.: |
11-015806 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.832 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17120MH1965PLC015806 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH07208F / MUMH01668C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH3757J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture and sale of Aroma chemicals. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5698000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “Mariwala Group”. It is a well established
company having satisfactory track. The company possesses a favourable financial
profile marked by adequate networth as well as liquidity profile along with
comfortable capital structure and moderate debt protection metrics. Management has witnessed an increase in
its sales volume as well as net profitability during 2013. The ratings also take into consideration
the strong client base and demonstrated research and development. Trade relations are fair. Business is
active. Payment terms are reported as regular and as per commitments. In view of established market position and
experienced promoters, the subject 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 |
A+ (Long Term Rating) |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
March 31, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A2+ (Short Term Rating) |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
March 31, 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 DENIED BY
|
Name : |
Ms. Devina |
|
Designation : |
Reception |
|
Contact No.: |
91-22-66513412 |
|
Date : |
14.05.2014 |
LOCATIONS
|
Registered Office : |
1004, Peninsula Tower, Peninsula Corporate
Park, Ganpatrao Kadam Marg, Off. Senapati Bapat Marg, Mumbai – 400013,
Maharashtra, India |
|
Tel. No.: |
91-22-66513412/ 26513400-3410/ 24951308 / 66513400 |
|
Fax No.: |
91-22-66513435 / 66513434 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 23.09.2013
|
Name : |
Mr. Harsh Charandas Mariwala |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
14.05.1951 |
|
Date of Appointment : |
21.07.2003 |
|
Voter ID No.: |
MT/04/024/384774 |
|
DIN No.: |
00210342 |
|
|
|
|
Name : |
Mr. Rajendra Kishore Mariwala |
|
Designation : |
Managing Director |
|
Address : |
Sudha Kunj, 3 Tardeo Road, Mumbai – 400034, Maharashtra, India |
|
Date of Birth/Age : |
04.09.1962 |
|
Date of Appointment : |
01.04.1995 |
|
Voter ID No.: |
MT/04/024/384733 |
|
DIN No.: |
00007246 |
|
|
|
|
Name : |
Mr. Kishore Mariwala |
|
Designation : |
Director |
|
Address : |
103 Everest Apartment, Off |
|
Date of Birth/Age : |
14.02.1935 |
|
Date of Appointment : |
23.01.1965 |
|
DIN No.: |
00036150 |
|
|
|
|
Name : |
Mr. Ravindra Kishore Mariwala |
|
Designation : |
Director |
|
Address : |
8 – B, Sahil, |
|
Date of Birth/Age : |
01.06.1966 |
|
Date of Appointment : |
05.04.2000 |
|
Pan No.: |
AADPM3839J |
|
DIN No.: |
00032825 |
|
|
|
|
Name : |
MR. Milind Shripad Sarwate |
|
Designation : |
Director |
|
Address : |
E-201/202, Sita Vihar, Near Damani Estate, LBS Marg, Naupada, Thane (West)
– 400 602, |
|
Date of Birth/Age : |
23.09.1959 |
|
Date of Appointment : |
01.02.2006 |
|
Voter ID No.: |
MT/10/053/1021021 |
|
DIN No.: |
00109854 |
|
|
|
|
Name : |
Mr. Arun Madhav Bewoor |
|
Designation : |
Director |
|
Address : |
20, Gilchrist Avenue, Harrington Road, Chetpet, Chennai – 600031,
Tamilnadu, India |
|
Date of Birth/Age : |
06.09.1942 |
|
Date of Appointment : |
22.09.2012 |
|
DIN No.: |
00024276 |
KEY EXECUTIVES
|
Name : |
Ms. Devina |
|
Designation : |
Reception |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 23.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Rajen Mariwala |
|
1 |
|
Harsh Mariwala |
|
1 |
|
Ravindra Mariwala |
|
1 |
|
Harsh C Mariwala Jointly with Kishore V Mariwala on Behalf of
Valentine Family Trust |
|
1830 |
|
Rajen Mariwala Jointly with Harsh C Mariwala on behalf of Aquarious
Family Trust |
|
1830 |
|
Harsh C Mariwala Jointly with Rajen K Mariwala on behalf of Gemini
Family Trust |
|
1830 |
|
Kishore V Mariwala Jointly with Harsh C Mariwala on behalf of Taurus
Family Trust |
|
1830 |
|
Bombay Oil Industries Private Limited, Mumbai |
|
994 |
|
|
|
|
|
Total |
|
8317 |
Equity Share Break up (Percentage of Total Equity)
As on: 23.09.2013
|
Category |
|
Percentage |
|
Bodies corporate |
|
11.95 |
|
Directors or relatives of directors |
|
88.05 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and sale of Aroma chemicals. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Standard Chartered Bank Crescenzo, 3a/F, Plot No. C-38 and 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai - 400051, Maharashtra, India · DBS Bank Limited, 221, Fort House, 3rd Floor, D.N. Road, Fort, Mumbai - 400001, Maharashtra, India · ICICI Bank Limited, Land Mark Race Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · The Federal Bank Limited, Fort Branch, B.S. Marg, Mumbai - 400001, Maharashtra, India · Citibank N. A. G-60, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India · Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai - 400021, Maharashtra, India · Indian Bank, Mandvi Branch; Kanmoor House, 281/289; Narsi Natha Street, Mumbai - 400009, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Price Waterhouse, 252 Veer Savarkar Bhavan, |
|
Pan No.: |
AAFFP3698A |
|
|
|
|
Enterprise owned or
significantly influenced by key management personnel or their relatives : |
The Bombay Oil Private Limited U15100MH1948PTC006179 |
|
|
|
|
Subsidiary
Companies : |
Arctic Investment and Trading Company Private Limited HPFL B.V. |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000 |
Equity Shares |
Rs.100/- each |
Rs.7.500 Millions |
|
250000 |
Preference Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.10.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8317 |
Equity Shares |
Rs.100/- each |
Rs.0.832 Million |
|
|
|
|
|
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 |
0.832 |
0.832 |
0.832 |
|
(b) Reserves & Surplus |
1423.758 |
1270.694 |
1228.383 |
|
(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) |
1424.590 |
1271.526 |
1229.215 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
424.726 |
298.977 |
178.698 |
|
(b) Deferred tax liabilities
(Net) |
74.342 |
72.791 |
73.364 |
|
(c) Other long term
liabilities |
14.000 |
10.878 |
11.078 |
|
(d) long-term provisions |
6.207 |
5.751 |
5.912 |
|
Total
Non-current Liabilities (3) |
519.275 |
388.397 |
269.052 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
576.484 |
271.776 |
371.865 |
|
(b) Trade payables |
679.635 |
473.760 |
504.170 |
|
(c) Other current liabilities |
161.680 |
119.144 |
94.316 |
|
(d) Short-term provisions |
30.003 |
30.361 |
44.597 |
|
Total
Current Liabilities (4) |
1447.802 |
895.041 |
1014.948 |
|
|
|
|
|
|
TOTAL |
3391.667 |
2554.964 |
2513.215 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1069.905 |
866.189 |
918.587 |
|
(ii) Intangible Assets |
1.208 |
3.184 |
4.509 |
|
(iii) Capital work-in-progress |
176.953 |
164.374 |
14.326 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
79.532 |
80.254 |
80.976 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
121.968 |
138.514 |
83.091 |
|
(e) Other Non-current assets |
0.998 |
27.037 |
25.961 |
|
Total
Non-Current Assets |
1450.564 |
1279.552 |
1127.450 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
89.460 |
28.374 |
105.053 |
|
(b) Inventories |
656.446 |
341.708 |
544.955 |
|
(c) Trade receivables |
832.040 |
471.552 |
598.263 |
|
(d) Cash and cash equivalents |
173.030 |
317.802 |
10.302 |
|
(e) Short-term loans and
advances |
168.976 |
112.863 |
105.866 |
|
(f) Other current assets |
21.151 |
3.113 |
21.326 |
|
Total
Current Assets |
1941.103 |
1275.412 |
1385.765 |
|
|
|
|
|
|
TOTAL |
3391.667 |
2554.964 |
2513.215 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
4095.925 |
2967.139 |
3180.520 |
|
|
Other Income |
80.318 |
37.957 |
114.901 |
|
|
TOTAL
(A) |
4176.243 |
3005.096 |
3295.421 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
3074.190 |
2033.806 |
2135.088 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(78.677) |
31.219 |
18.400 |
|
|
Employees benefits expense |
151.242 |
133.515 |
131.176 |
|
|
Other expenses |
659.606 |
506.779 |
507.127 |
|
|
TOTAL
(B) |
3806.361 |
2705.319 |
2791.791 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
369.882 |
299.777 |
503.630 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
61.217 |
64.771 |
43.832 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
308.665 |
235.006 |
459.798 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
131.076 |
114.223 |
101.626 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
177.589 |
120.783 |
358.172 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
55.126 |
33.428 |
120.001 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
122.463 |
87.355 |
238.171 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
974.850 |
901.150 |
695.640 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
12.250 |
8.830 |
23.820 |
|
|
Dividend |
4.160 |
4.160 |
4.160 |
|
|
Tax on Dividend |
0.670 |
0.670 |
0.050 |
|
|
Redemption Premium Reserve |
0.000 |
0.000 |
4.520 |
|
|
Capital redemption reserve |
0.000 |
0.000 |
0.110 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
1080.230 |
974.850 |
901.150 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
3397.720 |
2444.710 |
2791.420 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
14724.06 |
10503.78 |
29756.42 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.93 |
2.91 |
7.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.34 |
4.07 |
11.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.66 |
5.23 |
14.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.09 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.70 |
0.45 |
0.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.42 |
1.37 |
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 |
0.832 |
0.832 |
0.832 |
|
Reserves & Surplus |
1,228.383 |
1,270.694 |
1,423.758 |
|
Net
worth |
1,229.215 |
1,271.526 |
1,424.590 |
|
|
|
|
|
|
long-term borrowings |
178.698 |
298.977 |
424.726 |
|
Short term borrowings |
371.865 |
271.776 |
576.484 |
|
Total
borrowings |
550.563 |
570.753 |
1,001.210 |
|
Debt/Equity
ratio |
0.448 |
0.449 |
0.703 |
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 |
3,180.520 |
2,967.139 |
4,095.925 |
|
|
|
(6.709) |
38.043 |
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 |
3,180.520 |
2,967.139 |
4,095.925 |
|
Profit |
238.171 |
87.355 |
122.463 |
|
|
7.49% |
2.94% |
2.99% |
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 |
No |
|
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 |
No |
|
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 |
Yes |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED
LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Deferred sales tax loan |
9.483 |
10.576 |
|
|
|
|
|
Total |
9.483 |
10.576 |
OPERATIONS:
During the year, the Company’s revenue has increased from Rs. 3005.100 Million to Rs. 4176.240 Million, indicating a rise of 38.97% over previous year and of Cash Operating Profit (EBIDTA) has increased by 23.38% from Rs. 299.780 Million in the previous year to Rs.369.870 Million in the current year.
As a result, Profit after tax has increased by 40.18% from Rs. 87.360 Million in the previous year to Rs. 122.460 Million in the current year.
The Company continued to invest for growth and accordingly invested Rs. 347.390 Millions in fixed assets during the year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10471393 |
12/12/2013 |
150,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B93958650 |
|
2 |
10469609 |
12/12/2013 |
224,000,000.00 |
DBS BANK LTD |
3RD FLOOR, FORT HOUSE, 221,, DR. D N ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B93299162 |
|
3 |
10378452 |
05/09/2012 |
224,400,000.00 |
DBS BANK LTD. |
3RD FLOOR, FORT HOUSE,, DR. D N ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B58892795 |
|
4 |
10329153 |
23/07/2012 * |
204,000,000.00 |
CITIBANK N. A. |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI, MAHARASHTRA - 400051, INDIA |
B44495752 |
|
5 |
10243447 |
18/08/2010 |
240,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A95935664 |
|
6 |
10186127 |
25/10/2012 * |
150,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B62098033 |
|
7 |
10164371 |
12/12/2013 * |
250,000,000.00 |
DBS BANK LTD |
3RD FLOOR, FORT HOUSE, 221,, DR. D N ROAD, FORT, |
B93325520 |
|
8 |
10124913 |
15/12/2011 * |
91,160,000.00 |
DBS BANK LIMITED |
221, FORT HOUSE, 3RD FLOOR, D.N.ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B29539491 |
|
9 |
10076081 |
12/12/2013 * |
200,000,000.00 |
Standard Chartered Bank |
CRESCENZO, 3A/F, PLOT NO. C-38 & 39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA |
B94889847 |
|
10 |
80061885 |
08/02/2011 * |
85,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B08242729 |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
·
Land
·
Building
·
Plant and Machinery
·
Computers
·
Electrical Incubation
·
Furniture and Fixtures
·
Office Equipments
·
Vehicle
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 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 : |
SUV |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.