MIRA
INFORM REPORT
|
Report Date : |
19.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
ORIENTAL RUBBER INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Shravani Gardens, 20, Viman Nagar, Nagar Road, Pune – 411
014, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.01.1949 |
|
|
|
|
Com. Reg. No.: |
11-006875 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 37.275 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25199PN1949PLC006875 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEO01206C PNEO00948D PNEO00232B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO1592L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Rubber Products and Conveyor Belts. |
|
|
|
|
No. of Employees
: |
Information Decline by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having satisfactory track
record. The company possesses an improving financial profile marked by
moderate networth base and debt protection metrics albeit constrained by an
aggressive gearing due to large working capital requirements. Management has seen an increase in its sales volume as well as net
profitability during FY 13. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of established market position supported by diversified
product portfolio and established clientele, 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.
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: (BBB) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
29.05.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: (A3+) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
29.05.2013 |
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 DECLINED
Management non-cooperative. (Tel. No.: 91-20-66270800)
LOCATIONS
|
Registered Office : |
Shravani Gardens, 20, Viman Nagar, Nagar Road, Pune – 411
014, Maharashtra, India |
|
Tel. No.: |
91-20-66270800 / 842 |
|
Fax No.: |
91-20-26680810/ 26630840 / 66270846 |
|
E-Mail : |
orientalrubber@sm3.sprintrpg.ems.vsnl.net.in mukesh@orientalrubber.com |
|
Website : |
|
|
Area : |
4000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1: |
Gat Nos.519/2, 521/2, 523 and 525, Village Koregaon, Taluka Shirur, Bhima
Nagar Road, District Pune – 412 207, Maharashtra, India |
|
Area : |
9 Acers |
|
Location : |
Owned |
|
|
|
|
Factory 2: |
735, 736, 738 and 1268 Shikrapur, Karandegaon, Chakan, Pune,
Maharashta, India |
|
Area : |
16 Acers |
|
Location : |
Owned |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Makar Vijeynand Vikram |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Cluster 1/8, Kumar City, Kalyani Nagar, Pune – 411014, Maharashtra, India |
|
Date of Birth/Age : |
29.01.1963 |
|
Qualification : |
B. Com and Rubber Technology |
|
Date of Appointment : |
13.08.2012 |
|
PAN No.: |
ABXPM9797J |
|
DIN No.: |
00020284 |
|
|
|
|
Name : |
Mr. Vishal Vijeynand Makar |
|
Designation : |
Managing Director |
|
Address : |
Cluster 1/13 and 14, Kumar City, Kalyani Nagar, Pune – 411 014,
Maharashtra, India |
|
Date of Birth/Age : |
22.08.1965 |
|
Qualification : |
Chemical Engineer, PG in Polymer Sciences and B. Com |
|
Date of Appointment : |
13.08.2012 |
|
PAN No.: |
AAGPM4659K |
|
DIN No.: |
00020253 |
|
|
|
|
Name : |
Mr. Satish Kotian |
|
Designation : |
Whole-Time Director |
|
Address : |
Flat No. E-1/401 Madhuban Classics, Vishrantwadi, Pune – 411 015,
Maharashtra, India |
|
Date of Birth/Age : |
28.04.1958 |
|
Date of Appointment : |
13.08.2012 |
|
DIN No.: |
06374939 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Vijeynand Sadanand Makar |
5 |
|
Kamlesh Vijeynand
Makar |
138485 |
|
Vishal Vijeynand
Makar |
1793992 |
|
Vikram Vijeynand
Makar |
1793992 |
|
Meetashi
Vishal Makar |
500 |
|
Poonam Vikram Makar |
500 |
|
Punvick Investments Private Limited, India |
25 |
|
Quadrant Trades Private Limited, India |
1 |
|
|
|
|
Total
|
3727500 |
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 of Rubber Products and Conveyor Belts. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Conveyor and Transmission Belts |
16500 MT |
15300 MT |
911681 Meters |
|
Other Rubber Products |
8500 MT |
2200 MT |
2011390 Kgs |
Installed capacity depends upon the product
mix, which has been certified by the management and accepted by the auditors
without verification, being a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
Information Decline by the management |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
Corporation Bank, Industrial Finance Branch, 14,
Pune Mumbai Road, Wakdewadi, Pune – 411 003, Maharashtra, India
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs. In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M L Deshmukh and Associates Chartered Accountants |
|
Address : |
B555, Narayanpeth, Pune, Maharashtra, India |
|
PAN No.: |
ABDPD7455J |
|
|
|
|
Step Down Subsidiary of the company : |
Oriental Rubber Industries (SA) Pty Limited, South Africa |
|
|
|
|
Company in which Directors are directors : |
Quadrant Trades Private Limited |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3727500 |
Equity Shares |
Rs.10/- each |
Rs. 37.275
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 |
37.275 |
14.910 |
14.910 |
|
(b) Reserves & Surplus |
647.031 |
521.439 |
374.938 |
|
(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) |
684.306 |
536.349 |
389.848 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
105.605 |
138.993 |
129.480 |
|
(b) Deferred tax liabilities (Net) |
40.210 |
38.432 |
24.600 |
|
(c) Other long
term liabilities |
3.079 |
2.416 |
2.019 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
148.894 |
179.841 |
156.099 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
850.773 |
764.709 |
746.162 |
|
(b)
Trade payables |
575.024 |
518.403 |
381.824 |
|
(c)
Other current liabilities |
29.007 |
18.642 |
3.540 |
|
(d) Short-term
provisions |
87.283 |
69.830 |
24.730 |
|
Total Current
Liabilities (4) |
1542.087 |
1371.584 |
1156.256 |
|
|
|
|
|
|
TOTAL |
2375.287 |
2087.774 |
1702.203 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
490.722 |
458.525 |
324.994 |
|
(ii)
Intangible Assets |
0.198 |
0.161 |
0.017 |
|
(iii)
Capital work-in-progress |
33.437 |
41.415 |
93.327 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
20.707 |
8.171 |
8.171 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5.173 |
3.076 |
3.685 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
550.237 |
511.348 |
430.194 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
474.505 |
468.683 |
442.030 |
|
(c)
Trade receivables |
1185.661 |
909.887 |
647.252 |
|
(d) Cash
and cash equivalents |
56.461 |
36.761 |
33.872 |
|
(e)
Short-term loans and advances |
23.541 |
28.516 |
19.824 |
|
(f)
Other current assets |
84.882 |
132.579 |
129.031 |
|
Total
Current Assets |
1825.050 |
1576.426 |
1272.009 |
|
|
|
|
|
|
TOTAL |
2375.287 |
2087.774 |
1702.203 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3245.600 |
2946.619 |
2027.279 |
|
|
|
Other Income |
8.204 |
2.688 |
5.631 |
|
|
|
TOTAL (A) |
3253.804 |
2949.307 |
2032.910 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2446.132 |
2257.330 |
1432.468 |
|
|
|
Employee benefit expense |
107.717 |
87.167 |
110.568 |
|
|
|
Other expenses |
257.667 |
214.686 |
270.601 |
|
|
|
TOTAL (B) |
2811.516 |
2559.183 |
1813.637 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
442.288 |
390.124 |
219.273 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
117.635 |
98.290 |
81.845 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
324.653 |
291.834 |
137.428 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
52.369 |
42.123 |
36.379 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
272.284 |
249.711 |
101.049 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
89.279 |
79.613 |
23.422 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
183.005 |
170.098 |
77.627 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
414.517 |
292.813 |
233.636 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
27.500 |
25.000 |
8.000 |
|
|
|
Dividend |
34.888 |
23.394 |
10.450 |
|
|
|
Capitalized for Bonus Issue |
22.365 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
512.769 |
414.517 |
292.813 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
928.821 |
1032.123 |
1034.097 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
NA |
NA |
977.153 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
49.10 |
114.08 |
52.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.62 |
5.77 |
3.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.39 |
8.48 |
4.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.74 |
12.25 |
6.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40 |
0.47 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.40 |
1.69 |
2.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18 |
1.15 |
1.10 |
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 |
14.910 |
14.910 |
37.275 |
|
Reserves & Surplus |
374.938 |
521.439 |
647.031 |
|
Net
worth |
389.848 |
536.349 |
684.306 |
|
|
|
|
|
|
long-term borrowings |
129.480 |
138.993 |
105.605 |
|
Short term borrowings |
746.162 |
764.709 |
850.773 |
|
Total
borrowings |
875.642 |
903.702 |
956.378 |
|
Debt/Equity
ratio |
2.246 |
1.685 |
1.398 |
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 |
2027.279 |
2946.619 |
3245.600 |
|
|
|
45.348 |
10.147 |
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 |
2027.279 |
2946.619 |
3245.600 |
|
Profit |
77.627 |
170.098 |
183.005 |
|
|
3.83% |
5.77% |
5.64% |
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 |
Yes |
|
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 |
No |
|
10] |
Designation of contact person |
No |
|
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 |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Deferred payment liabilities |
15.843 |
15.644 |
|
Other loans and advances |
30.712 |
30.805 |
|
|
|
|
|
Total |
46.555 |
46.449 |
OPERATIONS
During the year, the Company’s total income increased by 10% over the previous year. The post-tax profit for the year was Rs.183.000 millions as against Rs.170.100 millions for the previous year. The Company performance must be appreciated in the back-drop of economic and industrial slow down seen universally.
OUTLOOK FOR THE
CURRENT YEAR
In view of the continuing slow down in the global economy, there is an effect being felt even in Indian business environment in the current period. The directors therefore are taking a conservative view in our growth estimates. The Company is aggressively pursuing new business opportunities in addition to servicing the existing clients and they should therefore be in preparedness once the economy turns around.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10447083 |
12/08/2013 |
50,000,000.00 |
FIRSTRAND BANK LIMITED |
TCG FINANCIAL CENTRE PLOT NO C 53 G BLOCK, BANDRA KURLA COMPLEX, MUMBAI, MAHARASHTRA - 400051, INDIA |
B84042084 |
|
2 |
10365078 |
21/06/2012 |
50,000,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE BRANCH, 14, PUNE MUMBAI ROAD, |
B43446624 |
|
3 |
10310231 |
15/09/2011 * |
40,000,000.00 |
CORPORATION BANK |
CORPORATE BANKING BRANCH, 14, PUNE MUMBAI ROAD, |
B22971055 |
|
4 |
10234608 |
28/07/2010 |
100,000,000.00 |
FIRST RAND BANK LIMITED |
5TH FLOOR, MISTRY BHAVAN, 122 DINSHAVACHA ROAD, |
A92237056 |
|
5 |
10182396 |
08/09/2009 |
150,000,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE BRANCH, 14# PUNE-MUMBAI ROAD, PUNE, MAHARASHTRA - 411003, INDIA |
A72211725 |
|
6 |
10138369 |
12/01/2009 |
100,000,000.00 |
UNION BANK OF INDIA |
619, SACHAPIR STREET, PUNE CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
A54606454 |
|
7 |
10046398 |
10/09/2013 * |
2,093,800,000.00 |
UNION BANK OF INDIA INDUSTRIAL FINANCE BRANCH |
619,SACHAPIR STREET, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
B86020500 |
|
8 |
10052617 |
29/03/2007 |
280,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH,, SACHIPIR STREET, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
A15391253 |
|
9 |
80028670 |
28/03/2006 |
93,700,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 619, SACHAPIR STREET, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
10 |
80028669 |
18/02/2006 |
482,800,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 619, SACHAPIR STREET, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
11 |
90088776 |
17/09/2004 * |
10,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PUNE CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
12 |
90092533 |
15/02/2005 * |
16,400,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PUNE CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
13 |
90088636 |
15/02/2005 * |
6,500,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PUNE CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
14 |
90086438 |
15/02/2005 * |
5,500,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PUNE CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
15 |
90086292 |
29/03/2007 * |
175,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH,SACHAPEER STREET, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
A13922950 |
|
16 |
90084986 |
07/12/1999 * |
546,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PUNE CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
17 |
90087900 |
25/06/1995 |
5,000,000.00 |
UNION BANK OF INDIA |
AGA KHAN PALACE BRANCH, PUNE, MAHARASHTRA - 411006, INDIA |
- |
|
18 |
90084033 |
15/03/2002 * |
7,500,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PUNE CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
19 |
90083994 |
29/03/2007 * |
100,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, SACHAPEER STREET, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
20 |
90093570 |
15/02/1991 |
8,500,000.00 |
THE STATE INDUSTRIAL AND INVESTMENT CORP. OF MAHARAS |
NIRMAL; 1ST FLOOR, NARIMAN POINT, BOMBAY, MAHARASHTRA - 400021, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
- Freehold Land
- Building
- Plant and Machinery
- Electrical Installation
- Furniture and Fixture
- Computer
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No 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. 58.86 |
|
|
1 |
Rs. 98.82 |
|
Euro |
1 |
Rs. 80.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
48 |
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.