MIRA
INFORM REPORT
|
Report Date : |
23.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
PRINCEWARE INTERNATIONAL PRIVATE LMITED (w.e.f.
09.07.2008) |
|
|
|
|
Formerly Known
As : |
PRINCE PLASTICS INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Omkar Esquare, 7th
Floor, Opposite Sion - Chunabhatti
Signal, Eastern Express Highway, Sion (East),
Mumbai-400022, Maharashtra |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
16.11.1992 |
|
|
|
|
Com. Reg. No.: |
11-069561 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.18.450
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1992PTC069561 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMP07023C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP3346H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Plastic Housewares.
|
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. There is a dip in profit of the company in the year 2013. However,
financial position of the company is decent. Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct. The company can be considered for normal 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.2453.2 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 |
ICRA |
|
Rating |
Term Loan = BBB - |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
February 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based Limit = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
February 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 : |
Mr. Indrajit Singh |
|
Designation : |
Senior Export Import Manager |
|
Contact No.: |
91-9819287414 |
|
Date : |
22.05.2014 |
LOCATIONS
|
Registered Office/ Corporate Office : |
Omkar Esquare, 7th
Floor, Opposite Sion - Chunabhatti
Signal, Eastern Express Highway, Sion (East),
Mumbai-400022, Maharashtra, India |
|
Tel. No.: |
91-22-24082288 / 24084422 / 24017711 |
|
Fax No.: |
91-22-24072244 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2500 sq. ft. |
|
Location: |
Owned |
|
|
|
|
Factory : |
24/4, Kachigam Road, Village Ringanwada, Nani, Daman -
396210, Daman and Diu, India |
|
Tel. No.: |
91-260-2242041 / 2242042 |
|
Fax No.: |
91-260-2242042 / 2241913 |
|
Location: |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Rakesh Kishore
Chheda |
|
Designation : |
Director |
|
Address : |
801/ 802, Omkar Co-Operative Housing
Society, 511/B, Matunga Estate, R.P. Masani Road, Matunga,
Mumbai-400019, Maharashtra, India |
|
Date of Birth/Age : |
17.03.1968 |
|
Date of Appointment : |
16.11.1992 |
|
PAN No.: |
AAAPC5779J |
|
DIN No.: |
00019209 |
|
|
|
|
Name : |
Ms. Neena R Chheda |
|
Designation : |
Director |
|
Address : |
801/ 802, Omkar Co-Operative Housing
Society, 511/B, Matunga Estate, R.P. Masani Road, Matunga,
Mumbai-400019, Maharashtra, India |
|
Date of Birth/Age : |
08.06.1971 |
|
Date of Appointment : |
03.10.2011 |
|
PAN No.: |
AEZPC6766J |
|
DIN No.: |
03636735 |
|
|
|
|
Name : |
Mr. Vijay Dilbagh Rai |
|
Designation : |
Director |
|
Address : |
207. New Bake House, 12 MCC Lane, Fort, Mumbai – 400001, Maharashtra, India |
|
Date of Birth/Age : |
13.10.1946 |
|
Date of Appointment : |
01.12.2003 |
|
PAN No.: |
AEVPR2852L |
|
DIN No.: |
00075837 |
|
|
|
|
Name : |
Mr. Nathalal Samji
Dudhagara |
|
Designation : |
Director |
|
Address : |
3, Nilmani Navroji
Lane, Ghatkopar (West), Mumbai – 400086, Maharashtra, India
|
|
Date of Birth/Age : |
15.08.1944 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
00089612 |
KEY EXECUTIVES
|
Name : |
Mr. Clifford Dmello |
|
Designation : |
Deputy Manager |
|
|
|
|
Name : |
Mr. Indrajit Singh |
|
Designation : |
Senior Export Import Manager |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Kishore Shamji Chheda |
|
23700 |
|
Rakesh Kishore Chheda |
|
665100 |
|
Rakesh Kishore Chheda HUF |
|
213200 |
|
Nina Rajkesh Chheda |
|
450300 |
|
Divyansh Rakesh Chheda |
|
213200 |
|
Dhvani Rakesh Chheda |
|
94800 |
|
Bhavesh Kishore Chheda |
|
184500 |
|
Prince Plastics India Private Limited, India |
|
100 |
|
Prism Design N Tooling Technology Private Limited, India |
|
100 |
|
Total |
|
1845000 |
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, Exporter and Importer of Plastic Houseware.
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Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
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|
Bankers : |
· Bank of India, Mumbai MID Corporate Branch, Mezanine Floor, BOI Building, 70/80 Mahatma Gandhi Road, Fort, Mumbai – 400001, Maharashtra, India Tel. No.: 91-22-22611954 · Export - Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India · Standard Chartered Bank, Abhijeet II, Ground Floor, Near Mithakali Six Road, Ahmedabad - 380006, Gujarat, India · Citibank N. A., Trent House, 2nd Floor, G Block, Plot No.C60, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India · ICICI Bank Limited · HDFC Bank · Axis Bank · Citi Bank · Bank of India |
|||||||||||||||||||||
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Facilities : |
|
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715, Tulsaini Chambers, 212,
Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
PAN No.: |
AAAFC0662N |
|
|
|
|
Subsidiary Company
: |
· Princeware Global Holidngs Limited · Princeware Africa (Kenya) Limited · Princeware Africa Limited |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives: |
·
Prince Plastics India Private Limited ·
Prism Design and Tooling Technology Private
Limited ·
Four Seasons Developers Private Limited ·
Ksons Plastics ·
Prince Plastics India Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
2500000 |
Preference Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
|
Total |
|
Rs.50.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1845000 |
Equity Shares |
Rs.10/- each |
Rs.18.450 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 |
18.450 |
18.450 |
23.700 |
|
(b) Reserves & Surplus |
606.355 |
547.904 |
542.532 |
|
(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) |
624.805 |
566.354 |
566.232 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
432.308 |
329.417 |
368.431 |
|
(b) Deferred tax liabilities (Net) |
43.844 |
50.917 |
45.970 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
32.470 |
31.601 |
0.000 |
|
Total Non-current Liabilities (3) |
508.622 |
411.935 |
414.401 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
672.133 |
770.856 |
425.055 |
|
(b) Trade payables |
198.150 |
201.730 |
105.620 |
|
(c) Other current
liabilities |
399.240 |
98.992 |
9.661 |
|
(d) Short-term provisions |
22.570 |
22.368 |
35.701 |
|
Total Current Liabilities (4) |
1,292.093 |
1,093.946 |
576.037 |
|
|
|
|
|
|
TOTAL |
2,425.520 |
2,072.235 |
1,556.670 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
592.478 |
643.577 |
601.043 |
|
(ii) Intangible Assets |
1.660 |
0.150 |
0.150 |
|
(iii) Capital
work-in-progress |
86.883 |
0.000 |
22.509 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
134.803 |
134.686 |
31.654 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Foreign currency monetary item translation difference
asset account |
13.593 |
2.657 |
|
|
(e) Long-term Loan and Advances |
178.007 |
205.284 |
220.245 |
|
(f) Other Non-current assets |
59.290 |
14.084 |
35.930 |
|
Total Non-Current Assets |
1,066.714 |
1,000.438 |
911.531 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
421.120 |
292.735 |
246.509 |
|
(c) Trade receivables |
590.270 |
528.964 |
319.385 |
|
(d) Cash and cash
equivalents |
36.088 |
197.359 |
16.885 |
|
(e) Short-term loans and
advances |
311.328 |
52.739 |
62.360 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1,358.806 |
1,071.797 |
645.139 |
|
|
|
|
|
|
TOTAL |
2,425.520 |
2,072.235 |
1,556.670 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
2489.265 |
2167.164 |
1619.097 |
|
|
|
|
Other Income |
11.640 |
14.185 |
11.168 |
|
|
|
|
TOTAL |
2500.905 |
2181.349 |
1630.265 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
2417.487 |
2050.669 |
1497.581 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
83.418 |
130.680 |
132.684 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
19.717 |
31.447 |
22.568 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS) AFTER
TAX |
63.701 |
99.233 |
110.116 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
254.126 |
178.972 |
98.015 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
0.000 |
|
25.000 |
|
|
|
|
Proposed
Final Dividend |
0.000 |
24.079 |
3.555 |
|
|
|
|
Tax on Proposed Dividend |
0.000 |
|
0.604 |
|
|
|
BALANCE CARRIED
TO THE B/S |
317.827 |
254.126 |
178.972 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
34.53 |
53.78 |
46.46 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.55 |
4.55 |
6.75 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.35 |
6.03 |
8.19 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.81 |
6.75 |
8.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.23 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.77 |
1.94 |
1.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
0.98 |
1.12 |
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 |
23.700 |
18.450 |
18.450 |
|
Reserves & Surplus |
542.532 |
547.904 |
606.355 |
|
Net
worth |
566.232 |
566.354 |
624.805 |
|
|
|
|
|
|
long-term borrowings |
368.431 |
329.417 |
432.308 |
|
Short term borrowings |
425.055 |
770.856 |
672.133 |
|
Total
borrowings |
793.486 |
1100.273 |
1104.441 |
|
Debt/Equity
ratio |
1.401 |
1.943 |
1.768 |
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 |
1,619.097 |
2,167.164 |
2,489.265 |
|
|
|
33.850 |
14.863 |
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
|
1,619.097 |
2,167.164 |
2,489.265 |
|
Profit |
110.116 |
99.233 |
63.701 |
|
|
6.80% |
4.58% |
2.56% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs. In
Millions
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long term debt |
110.746 |
71.166 |
0.000 |
|
Total |
110.746 |
71.166 |
0.000 |
|
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 |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs.
In Millions |
31.03.2012 Rs.
In Millions |
|
Long Term Borrowings |
|
|
|
Loans and advances from directors |
147.132 |
112.890 |
|
Loans and advances from others |
34.865 |
65.840 |
|
Short Term Borrowings |
|
|
|
Loans and advances from related parties |
0.000 |
176.007 |
|
Total |
181.997 |
354.737 |
YEAR IN
RETROSPECT: -
During the year the turnover of the company has jumped from Rs.2167.164
Millions to Rs.2489.265 Millions mainly due to penetration in Local Business.
Also during the year, the Company has successful had a foothold into the
business of trading in Luggage. Operational results of the company have reduced
from Rs.130.680 Millions to Rs.83.418 Millions on account of loss in Foreign
Exchange fluctuations. Correspondingly, the Net results were subdued from
Rs.99.233 Millions to Rs.67.301 Millions and hence were not as expected.
BUSINESS:-
The company has successfully made a mark into trading of luggage and
have opened its own retail stores so as to be able to reach the customer
directly.
Company is also under process of expanding the capacity during the year.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10443388 |
19/03/2014 * |
593,300,000.00 |
Others |
Bank Of India, Boi Building , Mezzanine Floor, Fort, Mumbai, Maharashtra - 400001, India |
C03124815 |
|
2 |
10448828 |
24/07/2013 |
60,000,000.00 |
Indusind Bank Limited |
Commercial Banking Group, Indusind House,, 425, Bhadkankar Marg, Opera House,, Mumbai, Maharashtra - 400004, India |
B84908102 |
|
3 |
10439261 |
19/03/2014 * |
30,000,000.00 |
Export Import Bank of India |
Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
C00886010 |
|
4 |
10374105 |
25/07/2012 |
20,000,000.00 |
BANK OF INDIA |
Mumbai Mid Corporate Branch, Bank Of India Bldg.,, Mezzanine Floor, 70-80 , Mahatma Gandhi Road, Fort, Mumbai, Maharashtra - 400001, India |
B57096646 |
|
5 |
10343950 |
13/08/2013 * |
90,000,000.00 |
Export Import Bank of India |
Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B85235927 |
|
6 |
10343356 |
16/08/2013 * |
349,500,000.00 |
ICICI BANK LIMITED |
Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India |
B85863850 |
|
7 |
10352459 |
09/03/2012 |
110,000,000.00 |
INDUSIND BANK LIMITED |
Indusind House.425, Dadasaheb Bhadkamkar Marg, Opera House, Mumbai, Maharashtra - 400004, India |
B38488250 |
|
8 |
10307090 |
19/08/2013 * |
100,000,000.00 |
Standard Chartered Bank |
Abhijeet Ii, Ground Floor, Near Mithakali Six Road, Ahmedabad, Gujarat - 380006, India |
B82919218 |
|
9 |
10286989 |
24/07/2013 * |
290,000,000.00 |
Citibank N. A. |
First International Financial Centre , 9th Floor, Plot No.C-54, C-55, G-Block, Bkc, Bandra (East), Mumbai, Maharashtra - 400051, India |
B83291716 |
|
10 |
10245613 |
02/02/2011 * |
88,800,000.00 |
Export Import Bank of India |
Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B05408646 |
|
11 |
10169621 |
17/12/2009 * |
82,500,000.00 |
Export Import Bank of India |
Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
A75345470 |
|
12 |
10106030 |
17/09/2010 * |
150,000,000.00 |
Barclays Bank Plc |
601/603, Ceejay House, Shivsagar Estate,
Dr. Annie Besant Road, Worli,
Mumbai, Maharashtra - 400018 |
A94501046 |
|
13 |
80044680 |
14/05/2012 * |
100,000,000.00 |
Export Import Bank of India |
Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B40144461 |
|
14 |
90153983 |
26/02/2014 * |
1,734,100,000.00 |
Bank of India |
Mumbai Mid Corporate Br, Mezanine Floor,, Boi Bldg, 70/80 Mahatma Gandhi Road, Fort, Mumbai, Maharashtra - 400001, India |
C00536896 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.58.57 |
|
|
1 |
Rs.98.88 |
|
Euro |
1 |
Rs.80.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
44 |
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.