MIRA
INFORM REPORT
|
Report Date : |
23.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
COLOURTEX INDUSTRIES PRIVATE LIMITED (w.e.f. 01.04.2014) |
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Formerly Known
As : |
COLOURTEX INDUSTRIES LIMITED (w.e.f. 20.03.2007) PANDESARA DYES AND INTERMEDIARIES PRIVATE LIMITED |
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Registered
Office : |
S. No.80, Bhestan, G.I.D.C., Pandesar, Surat – 394221, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
23.10.1989 |
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Com. Reg. No.: |
04-012922 |
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Capital Investment
/ Paid-up Capital : |
Rs.38.311 Millions |
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CIN No.: [Company Identification
No.] |
U24231GJ1989PTC012922 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
SRTP00070A |
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PAN No.: [Permanent Account No.] |
AABCP6359B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Dyes and Intermediates. |
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (52) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 15400000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having satisfactory track
record. The management has seen a better increase in its sales volume as well as
net profitability during 2013. The company possesses a healthy financial profile marked by decent
networth. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. The company can be considered for business dealings at usual trade
terms and conditions. NOTE: Subject has
changed their legal status from Limited to Private Limited from 01.04.2014 as
per ROC. |
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.
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. Vinod Patel |
|
Designation : |
Account Manager |
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Contact No.: |
91-9825041931 |
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Date : |
26.02.2014 |
LOCATIONS
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Registered Office/ Factory 1 : |
S. No.80, Bhestan, G.I.D.C., Pandesar, |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9825041931 (Mr. Vinod Patel) |
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Fax No.: |
Not Available |
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E-Mail : |
mitulnaik30@gmail.com |
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Website : |
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Location : |
Owned |
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Head Quarter : |
Survey No.91, Opposite Navin Fluorine Industries, Bhestan,
Surat – 395023, Gujarat, India |
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Tel. No.: |
91-261-2897800/ 801/ 802 |
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Fax No.: |
91-261-2892364/ 2890080 |
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E-Mail : |
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Factory 2 : |
Survey No.74/79/80, Plot No.158/15 to 19, 19, 438-1, 2, 3, 4, Bhestan
G.I.D.C., Pandesara, |
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Tel. No.: |
91-261-2891428/ 2891429/ 2897800/ 801/ 802 |
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Fax No.: |
91-261-2890080/ 2892364 |
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E-Mail : |
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Website : |
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Area : |
69000 Sq. mtrs. (Land area – 80000 Sq. mtrs.) |
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Location : |
Owned |
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Factory 3 : |
Kim, Karanj, Bhestan, District |
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Factory 4 : |
Survey No.75/50/80, Plot No.158, Bhestan, GIDC, Pandesara, |
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Factory 5 : |
Plot No. 8108/2, 288/1-2, 289/2 G.I.D.C., Sachin, Surat – 394230,
Gujarat, India |
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Overseas Office 1 : |
Colourtex Inc. 8000 Corporate Lane Drive, |
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Tel. No.: |
+ 1 704 540 1528 |
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Fax No.: |
+ 1 704 540 1529 |
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E-Mail : |
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Overseas Office 2 : |
Colourtex (Asia
Pacific) Limited |
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Tel. No.: |
+852 35273633 |
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Fax No.: |
+852 35273661 |
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E-Mail : |
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Branch Office : |
Located at: · Ahmedabad · Bhilwara · Chandigarh · Chennai · Ghaziabad · Ichhalkaranji · Mumbai ·
Tirupur |
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Sales Office : |
Located at: · Bangalore · Delhi · Gorakhpur · Hyderabad · Kanpur ·
Kolkata |
DIRECTORS
AS ON 30.09.2013
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Name : |
Mr. Vishadkumar Jayantilal Jariwala |
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Designation : |
Director |
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Address : |
4, Etka, Opposite Trinidhi Apartment, Ghaddod Road, Surat – 395007,
Gujarat, India |
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Date of Birth/Age : |
26.09.1975 |
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Qualification : |
B Com |
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Date of Appointment : |
29.12.1994 |
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DIN No.: |
00076314 |
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Name : |
Mr. Jayantilal Thakordas Jariwala |
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Designation : |
Managing Director |
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Address : |
3, Etka, Opposite Trinidhi Apartment, Ghad Dod Road, Surat – 395001,
Gujarat, India |
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Date of Birth/Age : |
04.11.1943 |
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Qualification : |
B Com |
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Date of Appointment : |
02.03.2011 |
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DIN No.: |
00110103 |
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Name : |
Mr. Kanakkumar Jayantilal Jariwala |
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Designation : |
Director |
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Address : |
3, Etka, Opposite Trinidhi Apartment, |
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Date of Birth/Age : |
17.11.1973 |
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Qualification : |
BSC |
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Date of Appointment : |
18.01.1994 |
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DIN No.: |
00110182 |
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Name : |
Mr. Maheshchandra Dhansukhlal Kabutarwala |
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Designation : |
Director |
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Address : |
4, Etka Society, Opposite Mamta Apartment, |
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Date of Birth/Age : |
16.11.1965 |
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Qualification : |
B Com |
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Date of Appointment : |
22.09.1993 |
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DIN No.: |
00110317 |
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Name : |
Mr. Pravinchandra Dhansukhlal Kabutarwala |
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Designation : |
Director (Operating and HRD) |
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Address : |
4, Etka Society, Opposite Mamta Apartment, |
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Date of Birth/Age : |
03.10.1956 |
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Qualification : |
BSC |
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Date of Appointment : |
23.10.1989 |
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DIN No.: |
00110351 |
KEY EXECUTIVES
|
Name : |
Mr. Vinod Patel |
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Designation : |
Account Manager |
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Name : |
Mr. Chirag |
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Designation : |
Finance Department |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Equity Shareholders |
|
No. of Shares |
|
Jayantilal Jariwala |
|
867044 |
|
Kanakkumar Jariwala |
|
397786 |
|
Vishadkumar Jariwala |
|
393479 |
|
Rameshchandra Kabutarwala |
|
367974 |
|
Pravinchandra Kabutarwala |
|
424687 |
|
Bipinchandra Kabutarwala |
|
365170 |
|
Maheshchandra Kabutarwala |
|
402885 |
|
Bhavesh Kabutarwala |
|
2381 |
|
Jenish Kabutarwala |
|
2807 |
|
Ketan Kabutarwala |
|
2313 |
|
Shyam Kabutarwala |
|
125 |
|
Shilpa Jariwala |
|
3200 |
|
Jay Kabutarwala |
|
125 |
|
Krunal Kabutarwala |
|
323 |
|
Urmila Asumati Trust (Proprietor of Shree Corporation
Trustee-Jayantilal Thakordas), |
|
281 |
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Thakor Private Trust Trustee- Vishadkumar Jariwala |
|
1 |
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|
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|
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Total |
|
3230581 |
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Names of Preference Shareholders |
|
No. of Shares |
|
Jayantilal Jariwala |
|
48000 |
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Kanakkumar Jariwala |
|
36000 |
|
Vishadkumar Jariwala |
|
36000 |
|
Rameshchandra Kabutarwala |
|
60000 |
|
Pravinchandra Kabutarwala |
|
60000 |
|
Bipinchandra Kabutarwala |
|
48000 |
|
Maheshchandra Kabutarwala |
|
48000 |
|
Bhavesh Kabutarwala |
|
12000 |
|
Jenish Kabutarwala |
|
24000 |
|
Ketan Kabutarwala |
|
24000 |
|
Jagrutiben Kabutarwala |
|
24000 |
|
Urmilaben Jariwala |
|
24000 |
|
Hemlataben Kabutarwala |
|
24000 |
|
Ishwariben Kabutarwala |
|
24000 |
|
Ushaben Kabutarwala |
|
12000 |
|
Shyam Kabutarwala |
|
24000 |
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Shilpa Jariwala |
|
12000 |
|
Jyotiben Jariwala |
|
24000 |
|
Jay Kabutarwala |
|
24000 |
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Krunal Kabutarwala |
|
12000 |
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|
|
|
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Total |
|
600000 |
LIST OF ALLOTTEES:
|
Names of Equity Shareholders |
|
No. of Shares |
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Pravinchandra Kabutarwala |
|
65 |
|
Vishadkumar Jariwala |
|
70 |
|
Kanakkumar Jariwala |
|
71 |
|
Maheshchandra Kabutarwala |
|
64 |
|
Bipinchandra Kabutarwala |
|
64 |
|
Jayantilal Jariwala |
|
158 |
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Rameshchandra Kabutarwala |
|
64 |
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|
|
|
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Total |
|
556 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
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Total |
100.00 |
%2023-May-2014_files/image002.gif)
BUSINESS DETAILS
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Suppliers : |
Aarti Industries Limited |
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Customers : |
Manufacturer Pratiba Syntex Limited |
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Line of Business : |
Manufacturer and Trader of Dyes and Intermediates. |
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Products : |
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Exports : |
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Products : |
·
Finish Goods |
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Countries : |
·
USA ·
Dubai ·
Turkey |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
China ·
England |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
PRODUCTION STATUS (As on: 31.03.2012)
|
Particulars |
Actual
Production |
|
S.O. Dyes |
2131592 |
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Dyes Intermediates |
29678 |
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Organic Surface Active Agents |
1013 |
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Misc. Chemical Products |
250162 |
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Intermediates |
1324263 |
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Mineral Fuel, Oils, etc. |
4500 |
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Articles of Plastics |
5 |
GENERAL INFORMATION
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Suppliers : |
Aarti Industries Limited |
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Customers : |
Manufacturer ·
Pratiba Syntex Limited |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
· IDBI Bank Limited · Bank of Baroda · Standard Chartered Bank, Abhijeet II, Ground Floor, Near Mithakali Six Roads, Ahmedabad – 380 006, Gujarat, India · Dena Bank, Bhestan Branch, Bhestan, Gujarat, India · HDFC Bank Limited, HDFC Bank House, Senapati Bapat marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, india |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S.N.K. and Company Chartered Accountants |
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Address : |
45, Sai Nagar Society, Behind Bhulka Bhavan School, Adajan Road, Surat
– 395009, India |
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Tel. No.: |
91-261-2656273-4/ 6544791-2/ 3299540-47 |
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Fax No.: |
91-261-2656868 |
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E-Mail: |
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Website : |
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PAN No.: |
AAJFS8455L |
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Related Parties : |
· Bhavin Fashions · Bhavin Textiles · Bhavin Industries · Vipan Industries · C M C Industries · Coconut Software Private Limited · CTX Lifescience Private Limited · Dhanesh Enterprise Private Limited · Thakor Private Trust · Shree Corporation (Prop.Urmila Asumati Trust) |
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Subsidiary Company
: |
Name: C T X Dyestuffs Private Limited Address: S. No.80,
Bhestan, G.I.D.C., Pandesar, Surat – 394221, Gujarat Line of Business: Manufacturer of Textile Yarn. · Colourtex (Asia Pacific) · Colourtex Inc. · Coltex. S.A |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22230000 |
Equity Shares |
Rs.10/- each |
Rs.222.300 Millions |
|
7650000 |
Preference Shares |
Rs.10/- each |
Rs.76.500 Millions |
|
|
|
|
|
|
|
Total
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|
Rs.298.800
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3231137 |
Equity Shares |
Rs.10/- each |
Rs.32.311 Millions |
|
600000 |
Preference Shares |
Rs.10/- each |
Rs.6.000 Millions |
|
|
|
|
|
|
|
Total
|
|
Rs.38.311
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
38.311 |
38.306 |
37.500 |
|
(b) Reserves & Surplus |
3835.493 |
3597.049 |
3535.833 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.806 |
|
Total Shareholders’
Funds (1) + (2) |
3873.804 |
3635.355 |
3574.139 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
3685.783 |
3315.832 |
2053.413 |
|
(b) Deferred tax liabilities (Net) |
2.324 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
3688.107 |
3315.832 |
2053.413 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1340.182 |
680.112 |
923.589 |
|
(b) Trade payables |
2532.264 |
2460.365 |
2353.020 |
|
(c) Other current liabilities |
334.454 |
307.583 |
189.988 |
|
(d) Short-term provisions |
151.527 |
50.501 |
161.494 |
|
Total Current
Liabilities (4) |
4358.427 |
3498.561 |
3628.091 |
|
|
|
|
|
|
TOTAL |
11920.338 |
10449.748 |
9255.643 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2976.075 |
2691.218 |
2193.497 |
|
(ii) Intangible Assets |
4.308 |
5.410 |
9.018 |
|
(iii) Capital work-in-progress |
149.582 |
538.803 |
317.042 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
26.548 |
26.516 |
26.516 |
|
(c) Deferred tax assets (net) |
0.000 |
13.246 |
25.268 |
|
(d) Long-term Loan and Advances |
126.624 |
159.355 |
184.638 |
|
(e) Other Non-current assets |
2.906 |
19.978 |
19.713 |
|
Total Non-Current
Assets |
3286.043 |
3454.526 |
2775.692 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3351.523 |
2932.203 |
2747.821 |
|
(c) Trade receivables |
4054.318 |
3222.382 |
2761.720 |
|
(d) Cash and cash equivalents |
432.830 |
339.019 |
214.129 |
|
(e) Short-term loans and advances |
795.624 |
501.618 |
756.281 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
8634.295 |
6995.222 |
6479.951 |
|
|
|
|
|
|
TOTAL |
11920.338 |
10449.748 |
9255.643 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
15287.638 |
12698.700 |
11222.632 |
|
|
|
Other Income |
29.615 |
18.307 |
15.323 |
|
|
|
TOTAL (A) |
15317.253 |
12717.007 |
11237.955 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
11,065.231 |
9311.648 |
8324.311 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(244.483) |
(225.625) |
(471.354) |
|
|
|
Employee benefit expense |
642.653 |
521.555 |
389.381 |
|
|
|
Other expenses |
2,380.653 |
2129.005 |
1897.285 |
|
|
|
TOTAL (B) |
13,844.054 |
11736.583 |
10139.623 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1,473.199 |
980.424 |
1098.332 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
480.306 |
336.930 |
314.732 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
992.893 |
643.494 |
783.600 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
620.784 |
546.347 |
485.949 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
372.109 |
97.147 |
297.651 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
133.041 |
35.660 |
100.607 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
239.068 |
61.487 |
197.044 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Direct Export |
4305.610 |
3148.936 |
2906.222 |
|
|
TOTAL EARNINGS |
4305.610 |
3148.936 |
2906.222 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3541.146 |
2875.427 |
2545.124 |
|
|
|
Capital Goods |
15.560 |
19.413 |
17.243 |
|
|
|
Advance for Capital Goods |
0.000 |
17.518 |
45.313 |
|
|
TOTAL IMPORTS |
3556.706 |
2912.358 |
2607.680 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
73.99 |
19.03 |
63.87 |
|
Expected Sales (2013-2014): Rs.22000.000 Millions
The above information has been parted by Mr. Vinod Patel (Account
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.56 |
0.48 |
1.75 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.43 |
0.77 |
2.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.17 |
0.98 |
3.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.03 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.30 |
1.10 |
0.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.98 |
2.00 |
1.79 |
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 |
37.500 |
38.306 |
38.311 |
|
Reserves & Surplus |
3535.833 |
3597.049 |
3835.493 |
|
Share Application money
pending allotment |
0.806 |
0.000 |
0.000 |
|
Net
worth |
3574.139 |
3635.355 |
3873.804 |
|
|
|
|
|
|
long-term borrowings |
2053.413 |
3315.832 |
3685.783 |
|
Short term borrowings |
923.589 |
680.112 |
1340.182 |
|
Total
borrowings |
2977.002 |
3995.944 |
5025.965 |
|
Debt/Equity
ratio |
0.833 |
1.099 |
1.297 |
%2023-May-2014_files/image004.gif)
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 |
11222.632 |
12698.700 |
15287.638 |
|
|
|
13.153 |
20.387 |
%2023-May-2014_files/image006.gif)
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
|
11222.632 |
12698.700 |
15287.638 |
|
Profit |
197.044 |
61.487 |
239.068 |
|
|
1.76% |
0.48% |
1.56% |
%2023-May-2014_files/image008.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM DEBT:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current maturity of long term debt |
201.919 |
201.923 |
77.742 |
|
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 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
OPERATIONS:
The performance
of subject during the year 2012-13 was satisfactory. Subject has earned net
revenue of Rs.15287.637 Millions from operations and Rs.29.615 Millions from
other sources for the year. After providing an expenditure of Rs.14945.144
Millions and taxes of Rs.133.041 Millions, subject has earned Net Profit of
Rs.239.067 Millions.
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Other loans and
advances |
3271.860 |
2733.841 |
|
|
|
|
|
Total |
3271.860 |
2733.841 |
CONTINGENT
LIABILITIES:
(Rs. In Millions)
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Guarantees issued
by the Company’s Bankers on behalf of the Company |
|
|
|
|
Bank of Baroda |
4.447 |
22.251 |
12.600 |
|
IDBI Bank |
62.347 |
37.889 |
1.000 |
|
Letter of credit
opened by banks |
|
|
|
|
IDBI Bank |
10.143 |
NIL |
22.300 |
|
Standard chartered Bank |
10.249 |
0.000 |
0.000 |
|
Disputed Excise Duty and Other demands |
1.173 |
6.856 |
6.016 |
|
Disputed Gujarat VAT demands |
12.935 |
0.000 |
0.000 |
|
Income Tax demands where the cases are pending at various
stages of appeal with the authorities |
14.098 |
14.098 |
14.098 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10429532 |
15/12/2013
* |
700,000,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013,
INDIA |
B95868410 |
|
2 |
10295304 |
19/12/2011
* |
550,000,000.00 |
STANDARD
CHARTERED BANK |
ABHIJEET
II, GROUND FLOOR,, NEAR MITHAKALI SIX RO |
B28170983 |
|
3 |
10208255 |
09/10/2012
* |
750,000,000.00 |
STANDARD
CHARTERED BANK |
ABHIJIT
II, GROUND FLOOR, NEAR MITHAKHALI SIX ROAD, AHMEDABAD, GUJARAT - 380006,
INDIA |
B65403362 |
|
4 |
10097978 |
05/02/2010
* |
1,136,800,000.00 |
IDBI
BANK LIMITED |
ESS
EN HOUSE, GHOD DOD ROAD, SURAT, GUJARAT - 395001, INDIA |
A79591194 |
|
5 |
10015403 |
10/07/2006 |
20,000,000.00 |
THE
SURAT PEOPLE'S CO.OP BANK LIMITED |
VASUDHARA
BHAVAN, TIMALIAWAD, NANPURA, SURAT, GUJARAT - 395001, INDIA |
A02325090 |
|
6 |
90160885 |
30/12/1996
* |
50,000,000.00 |
STATE
BANK OF INDIA |
SALABAT
PURA, SURAT, GUJARAT, INDIA |
- |
|
7 |
90315433 |
21/03/1995 |
9,000,000.00 |
GUJARAT
STATE FINANCIAL CORPORATION |
JALDARSHAN
BUILDING, ASHRAM ROAD, AHMEDABAD, GUJARAT, INDIA |
- |
|
8 |
90166260 |
19/10/1994
* |
5,000,000.00 |
CANARA
BANK |
PATEL
CHAMBERS, NANPURA, SURAT, GUJARAT - 395001, |
- |
|
9 |
90108849 |
11/02/1992 |
4,900,000.00 |
STATE
BANK OF INDIA |
SALABATPURA
BRANCH, SALABATPURA, SURAT, GUJARAT, INDIA |
- |
|
10 |
90162237 |
28/06/1989
* |
6,100,000.00 |
GUJARAT
INDUDSTRIAL INVESTMENT CORPORATION LIMITED |
CHUNNIBHAI
CHAMBERS, ASHARAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
- |
|
11 |
90162045 |
14/06/1987
* |
1,942,000.00 |
GUJARAT
STATE FINANCIAL CORPORATION |
JAL
DARSHAN BUILDING, ASHRAM ROAD, AHMEDABAD, GUJARAT, INDIA |
- |
|
12 |
90162037 |
28/04/1989
* |
4,000,000.00 |
GUJARAT
STATE FINANCIAL CORPORATION |
JALDARSHAN
BUILDING, ASHRAM ROAD, AHMEDABAD, GUJARAT, INDIA |
- |
|
13 |
90165926 |
30/01/1992
* |
3,589,702.00 |
CANARA
BANK |
PATEL
CHAMBERS, SURAT, GUJARAT - 395001, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
· Buildings
· Residential Building
· Factory Building
· Plant and Equipment
· Factory Equipments
· Vehicles
· Computer Equipments
· Office Equipments
· Land
· Furniture and Fixtures
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.58.57 |
|
|
1 |
Rs.98.88 |
|
Euro |
1 |
Rs.80.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
52 |
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.