MIRA
INFORM REPORT
|
Report Date : |
27.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
TAYAL COTTON PRIVATE LIMITED |
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Registered
Office : |
Plot No. 100, Cidco, N-4/F-1,
Manuprabha, Guru Sahani Nagar, Garkheda, Aurangabad – 431003, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
18.07.2012 |
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Com. Reg. No.: |
11-233523 |
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Capital
Investment / Paid-up Capital : |
Rs. 5.000 Millions |
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CIN No.: [Company Identification
No.] |
U17290MH2012PTC233523 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NSKT03544C |
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PAN No.: [Permanent Account No.] |
AAECT3173G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of cotton ginning and pressing process. |
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No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 21000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Even though the company was
incorporated on 18th July 2012. It has recently commenced its
business operations. As claimed by Mr. S.R. Paliwal, Export manager that company has
started it business activities from August 2013. Further He also provided
general information to us. However, trade relations are improving. Business is active. Payment
terms are slow but correct. The company can be considering for business dealings with great
caution. |
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 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. S.R. Paliwal |
|
Designation : |
Export Manager |
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Contact No.: |
91-9561116396 |
|
Date : |
23.05.2014 |
LOCATIONS
|
Registered Office / Factory: |
Plot No. 100, Cidco, N-4/F-1,
Manuprabha, Guru Sahani Nagar, Garkheda, Aurangabad – 431003, Maharashtra,
India |
|
Tel. No.: |
91-240-2453285 / 86 |
|
Mobile No.: |
91-9561116396 (Mr. S.R. Paliwal) |
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Fax No.: |
91-240-2453288 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Pradeep Kumar Tayal |
|
Designation : |
Director |
|
Address : |
Plot No. 370,371, N 3, Cidco,
Aurangabad – 431003, Maharashtra, India |
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Date of Birth/Age : |
25.03.1963 |
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Date of Appointment : |
18.07.2012 |
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DIN No. : |
01560810 |
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Other Directorship :
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Name : |
Mr. Sunil Kumar Tayal |
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Designation : |
Director |
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Address : |
Pradeep Fibres Plot No. 133, N-3, Cidco, Aurangabad – 431003,
Maharashtra, India |
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Date of Birth/Age : |
07.01.1965 |
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Date of Appointment : |
18.07.2012 |
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DIN No. : |
02251244 |
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Other Directorship :
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Name : |
Mr. Ankit Kumar Tayal |
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Designation : |
Director |
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Address : |
4 Durga Nagar, Indore – 452001, Madhya Pradesh, India |
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Date of Birth/Age : |
01.05.1986 |
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Date of Appointment : |
18.07.2012 |
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DIN No. : |
03557646 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. S.R. Paliwal |
|
Designation : |
Export Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Pradeep Kumar Tayal |
|
48000 |
|
Anju Sunil Tayal |
|
45000 |
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Sunil Pushalal Tayal |
|
45000 |
|
Manudevi Pushalal Tayal |
|
48000 |
|
Veena Pradeep Tayal |
|
45000 |
|
Chandadevi Kishore Tayal |
|
45000 |
|
Ankit Tayal |
|
45000 |
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Kishore Pushalal Tayal HUF |
|
44000 |
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Pradeep Pushalal Tayal HUF |
|
45000 |
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Sunil Pushalal Tayal HUF |
|
45000 |
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Pradeep Pushalal Tayal |
|
45000 |
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Total |
|
500000 |
AS ON 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
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|
|
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of cotton ginning and pressing process. |
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Exports : |
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Products : |
Cotton ginning |
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Countries : |
Pakistan |
GENERAL INFORMATION
|
No. of Employees : |
40 (Approximately) |
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Bankers : |
·
Axis Bank Limited, Sakar Building, Adalat Road,
Kranti Chowk, Aurangabad – 431005, Maharashta, India ·
State Bank of India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Piyush Mandovra and Company Chartered Accountants |
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Address : |
2, White Church Colony, Opposite Aaykar Bhavan, Indore – 452001,
Madhya Pradesh, India |
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Tel. No.: |
91-731-2701600 to 603 |
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PAN No.: |
ACRPM6638H |
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E-Mail : |
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Associates/Subsidiaries : |
Pradeep Fibers Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital : Rs.15.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.15.000
Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
|
31.03.2013 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
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|
5.000 |
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(b) Reserves & Surplus |
|
|
0.169 |
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(c) Money received against
share warrants |
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|
0.000 |
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|
|
|
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(2) Share Application money pending
allotment |
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|
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
|
|
5.169 |
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|
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|
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(3) Non-Current Liabilities |
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|
|
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(a) long-term borrowings |
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|
0.000 |
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(b) Deferred tax liabilities
(Net) |
|
|
0.000 |
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(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.000 |
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Total
Non-current Liabilities (3) |
|
|
0.000 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
0.305 |
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(b) Trade payables |
|
|
0.000 |
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(c) Other current liabilities |
|
|
0.000 |
|
(d) Short-term provisions |
|
|
0.043 |
|
Total
Current Liabilities (4) |
|
|
0.348 |
|
|
|
|
|
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TOTAL |
|
|
5.517 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
0.000 |
|
(ii) Intangible Assets |
|
|
0.000 |
|
(iii) Capital work-in-progress |
|
|
0.000 |
|
(iv) Intangible assets under
development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
0.000 |
|
(e) Other Non-current assets |
|
|
0.025 |
|
Total
Non-Current Assets |
|
|
0.025 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
0.000 |
|
(c) Trade receivables |
|
|
0.000 |
|
(d) Cash and cash equivalents |
|
|
0.250 |
|
(e) Short-term loans and
advances |
|
|
5.242 |
|
(f) Other current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
5.492 |
|
|
|
|
|
|
TOTAL |
|
|
5.517 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
|
|
0.000 |
|
|
Other Income |
|
|
0.420 |
|
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TOTAL
|
|
|
0.420 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Other expenses |
|
|
0.148 |
|
|
TOTAL
|
|
|
0.148 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
0.272 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
|
0.028 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
|
0.244 |
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.075 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
|
0.169 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
0.340 |
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
2000.000 |
The above information has been parted by Mr. S.R. Paliwal.
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2013 |
|
PAT / Total Income |
(%) |
|
|
40.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
0.00 |
|
|
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
4.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
15.78 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by
Info Agents |
Available
in Report (Yes / No) |
|
1] |
Year of
Establishment |
Yes |
|
2] |
Locality of
the firm |
Yes |
|
3] |
Constitutions
of the firm |
Yes |
|
4] |
Premises
details |
No |
|
5] |
Type of
Business |
Yes |
|
6] |
Line of
Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No. of
employees |
Yes |
|
9] |
Name of
person contacted |
Yes |
|
10] |
Designation of
contact person |
Yes |
|
11] |
Turnover of
firm for last two years |
Yes |
|
12] |
Profitability
for last one 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) |
Yes |
|
21] |
Market
information |
------ |
|
22] |
Litigations that
the firm / promoter involved in |
------ |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
No |
|
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 |
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10471413 |
27/12/2013 |
115,000,000.00 |
Axis Bank
Limited |
Sakar Building, Adalat Road, Kranti Chowk,
Aurangabad- 431005, Maharashtra, India |
B93965168 |
UNSECURED LOANS
|
Particulars |
|
31.03.2013 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loan from
Shareholders |
|
|
|
Anju Devi Sunil Tayal |
|
0.100 |
|
Neha Cotton Industries |
|
0.085 |
|
Ashish Kumar Tayal |
|
0.120 |
|
|
|
|
|
Total |
|
0.305 |
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.58.59 |
|
|
1 |
Rs.98.66 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
------ |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.