MIRA INFORM REPORT
|
Report Date : |
07.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHIRIPAL POLY FILMS LIMITED |
|
|
|
|
Registered
Office : |
109/110, Peninsula Centre, Dr. S.S. Rao Road, Parel, Mumbai – 400012,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
31.08.2009 |
|
|
|
|
Com. Reg. No.: |
11-195352 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.46.690 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17120MH2009PLC195352 |
|
|
|
|
IEC No.: |
0810007266 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC7403M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of Biaxially Oriented Poly Propylene (BOPP) Films. |
|
|
|
|
No. of Employees
: |
205 (Approximately) |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company possesses an acceptable financial profile marked by
adequate networth base along with aggressive capital structure and working
capital intensive nature of its operations. Management has reported better improvement in its sales volume and a
decent net profitability during FY 14. The rating also take into consideration exposure to cyclicality in,
and commoditized nature of the packaging industry. However, trade relations seems to be fair. Business is active. Payment
terms are reported as usually correct. In view of established market position and experienced management, 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
N E W S
7
Verdict Implications:
Apex court order may alter coal import dynamics. Traders go slowly on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn Business Empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock Exchanges.
On Mobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs could
number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB - |
|
Rating Explanation |
Moderate degree of safety and moderate credit
risk |
|
Date |
14.02.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
14.02.2014 |
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Pratik Shah |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9727768078 |
|
Date : |
05.11.2014 |
LOCATIONS
|
Registered Office/ Branch Office : |
109/110, Peninsula
Centre, Dr. S.S. Rao Road, Parel, Mumbai – 400012, Maharashtra, India |
|
Tel. No.: |
91-22-66604123 |
|
Mobile No.: |
91-9727768078 (Mr. Pratik Shah) |
|
Fax No.: |
91-22-66604123 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office (Correspondence Address) : |
Chiripal House, Shivranjani Cross Roads, Satellite, Ahmedabad –
380015, Gujarat, India |
|
Tel. No.: |
91-79-26473302 |
|
Fax No.: |
91-79-26768656 |
|
|
|
|
Factory : |
Plot No.14, Vraj Integrated Textile Park, N.H. No.8, Kheda, Ahmedabad
– Baroda Highway, Village Bidaj, Taluka and District Kheda – 397420, Gujarat,
India |
DIRECTORS
As on: 28.09.2013
|
Name : |
Mr. Jyotiprasad Devkinandan Chiripal |
|
Designation : |
Director |
|
Address : |
91, Basant Bahar Bunglow, Bopal, Ahmedabad – 380058,
Gujarat, India |
|
Date of Birth/Age : |
21.08.1953 |
|
Date of Appointment : |
31.08.2009 |
|
DIN No.: |
00155695 |
|
|
|
|
Name : |
Mr. Vedprakash Devkinandan Chiripal |
|
Designation : |
Director |
|
Address : |
11, Nandi Hill Society, Satellite Road, Ahmedabad -
380013, Gujarat, India |
|
Date of Birth/Age : |
21.11.1951 |
|
Date of Appointment : |
31.08.2009 |
|
DIN No.: |
00290454 |
|
|
|
|
Name : |
Mr. Jaiprakash Devkinandan Chiripal |
|
Designation : |
Director |
|
Address : |
10, Nandi Hill Society, Satellite Road, Ahmedabad - 380
013, Gujarat, India |
|
Date of Birth/Age : |
02.11.1959 |
|
Date of Appointment : |
31.08.2009 |
|
DIN No.: |
00155430 |
|
|
|
|
Name : |
Mr. Neeraj Kakkar |
|
Designation : |
Director |
|
Address : |
B – 24, Sachin Tower, 100 Ft Road, Near IOCL Petrol Pump, Ahmedabad –
380015, Gujarat, India |
|
Date of Birth/Age : |
14.09.1955 |
|
Date of Appointment : |
28.09.2013 |
|
DIN No.: |
06562223 |
KEY EXECUTIVES
|
Name : |
Mr. Pratik Shah |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 08.10.2014
LIST OF ALLOTTES:
|
Names of Shareholders |
No. of Shares |
|
Jaiprakash Chiripal |
132000 |
|
Ved Prakash Chiripal |
128000 |
|
Jyotiprasad Chiripal |
128000 |
|
Vishal Chiripal |
244000 |
|
Deepak Chiripal |
244000 |
|
Rajesh Bindal |
2000 |
|
Amit Bindal |
2000 |
|
Brijmohan D. Chiripal |
100000 |
|
Priyanka B. Agarwal |
120000 |
|
Manjudevi J. Chiripal |
520000 |
|
Nidhi J. Agarwal |
150000 |
|
Ruchi B. Agarwal |
130000 |
|
Ronak B. Agarwal |
200000 |
|
Pritidevi B. Chiripal |
220000 |
|
Urmiladevi J. Agarwal |
260000 |
|
Savitridevi V. Chiripal |
260000 |
|
Vineeta V. Chiripal |
170000 |
|
Nitika D. Chiripal |
170000 |
|
M/S Orange Mauritius Investment Limited, Mauritus |
396000 |
|
M/s Opulence Investment Limited, Mauritus |
371464 |
|
M/s Platinummic FZE, United Arab Emirates |
21004 |
|
Kautilya Traders Private Limited, India |
331000 |
|
Mr. Monil Chiripal |
61220 |
|
Vijay Subham Contrade Private Limited, India |
2000 |
|
M/s. Bhushan Petrofils Private Limited, India |
47620 |
|
M/s. Dindayal Processors Private Limited, India |
47620 |
|
M/s. Tripoli Management Private Limited, India |
47620 |
|
M/s. Chiripal Industries Limited, India |
47620 |
|
M/s. Shanti Exports Private Limited, India |
47620 |
|
M/s. Bhavana Textiles Private Limited, India |
47619 |
|
M/s. Hexa International Private Limited, India |
47620 |
|
Total |
4696027 |
As on 29.03.2014
LIST OF ALLOTTES:
|
Names of
Shareholders |
No. of Shares |
|
M/s. Bhushan Petrofils Private Limited, India |
47620 |
|
M/s. Dindayal Processors Private Limited, India |
47620 |
|
M/s. Sparow Exports Private Limited, India |
47620 |
|
M/s. Shanti Exports Private Limited, India |
47620 |
|
M/s. Bhavana Textiles Private Limited, India |
47619 |
|
M/s. Chiripal Industries Limited, India |
47620 |
|
M/s. Quality Exim Private Limited |
47620 |
|
Total |
333339 |
As on 21.10.2013
LIST OF ALLOTTES:
|
Names of
Shareholders |
No. of Shares |
|
M/s. Platinummic FZE, United Arab Emirates |
21004 |
|
|
|
|
Total |
21004 |
As on: 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Jaiprakash Chiripal |
|
132000 |
|
Ved Prakash Chiripal |
|
128000 |
|
Jyotiprasad Chiripal |
|
128000 |
|
Vishal Chiripal |
|
244000 |
|
Deepak Chiripal |
|
244000 |
|
Rajesh Bindal |
|
2000 |
|
Amit Bindal |
|
2000 |
|
Brijmohan D. Chiripal |
|
100000 |
|
Priyanka B. Agarwal |
|
120000 |
|
Manjudevi J. Chiripal |
|
500000 |
|
Nidhi J. Agarwal |
|
150000 |
|
Ruchi B. Agarwal |
|
130000 |
|
Ronak B. Agarwal |
|
200000 |
|
Pritidevi B. Chiripal |
|
200000 |
|
Urmiladevi J. Agarwal |
|
240000 |
|
Savitridevi V. Chiripal |
|
240000 |
|
Vineeta V. Chiripal |
|
170000 |
|
Nitika D. Chiripal |
|
170000 |
|
Desert Diamond General Trading LLC, U.A.E. |
|
25954 |
|
Neelam Sharma |
|
26924 |
|
Shyamsunder Sharma |
|
8342 |
|
Kautilya Traders Private Limited, India |
|
331000 |
|
Sparow Exports Private Limited, India |
|
80000 |
|
Vijay Subham Contrade Private Limited, India |
|
2000 |
|
Orange Mauritius Investment Limited, Republic of Mauritius |
|
396000 |
|
Opulence investment Limited, Mauritius |
|
371464 |
|
Total |
|
4341684 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companies(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
19.09 |
|
Bodies corporate |
9.51 |
|
Directors or relatives of Directors |
60.94 |
|
Other top fifty shareholders |
10.46 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Biaxially Oriented Poly Propylene (BOPP)
Films. |
||||||
|
|
|
||||||
|
Products: |
|
GENERAL INFORMATION
|
No. of Employees : |
205 (Approximately) |
||||||||||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
C N Somani and Associates Chartered Accountants |
|
Address : |
91, Hirabhai Market, Kakaria, Ahmedabad - - 380022, Gujarat, India |
|
PAN No.: |
AMYPS6567L |
|
|
|
|
Subsidiary Company: |
|
|
|
|
|
Enterprise over
which key management personnel exercise significant influence : |
CIN No.: U45300GJ2005PLC047423
CIN No.: U17110GJ1988PLC010634
CIN No.: U74899DL1994PTC062794
CIN No.: U17110GJ1985PTC008206
CIN No.: L51909GJ1994PLC022719 |
CAPITAL STRUCTURE
As on 30.09.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9392054 |
Equity Shares |
Rs.10/- each |
Rs. 93.920 Millions |
As on 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4696027 |
Equity Shares |
Rs.10/- each |
Rs.46.960 Millions |
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
46.960 |
43.417 |
19.851 |
|
(b) Reserves & Surplus |
1423.202 |
851.314 |
420.378 |
|
(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) |
1470.162 |
894.731 |
440.229 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
3741.273 |
1802.930 |
1754.540 |
|
(b) Deferred tax
liabilities (Net) |
148.470 |
107.467 |
22.387 |
|
(c)
Other long term liabilities |
14.864 |
29.545 |
101.928 |
|
(d)
long-term provisions |
1.516 |
0.843 |
0.337 |
|
Total
Non-current Liabilities (3) |
3906.123 |
1940.785 |
1879.192 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
579.386 |
363.147 |
38.360 |
|
(b)
Trade payables |
694.706 |
352.901 |
94.432 |
|
(c)
Other current liabilities |
389.253 |
248.156 |
199.056 |
|
(d)
Short-term provisions |
1.305 |
30.106 |
3.006 |
|
Total
Current Liabilities (4) |
1664.650 |
994.310 |
334.854 |
|
|
|
|
|
|
TOTAL |
7040.935 |
3829.826 |
2654.275 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4652.517 |
2216.867 |
2,162.168 |
|
(ii)
Intangible Assets |
68.694 |
70.492 |
68.145 |
|
(iii)
Capital work-in-progress |
3.183 |
152.790 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
4.048 |
|
(b)
Non-current Investments |
6.524 |
4.270 |
12.864 |
|
(c)
Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
60.655 |
34.072 |
17.606 |
|
(e)
Other Non-current assets |
0.000 |
1.700 |
1.700 |
|
Total
Non-Current Assets |
4791.573 |
2480.191 |
2266.531 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
340.145 |
220.111 |
113.926 |
|
(c)
Trade receivables |
1587.174 |
817.925 |
78.999 |
|
(d)
Cash and cash equivalents |
82.153 |
54.945 |
85.635 |
|
(e)
Short-term loans and advances |
227.380 |
254.074 |
104.26 |
|
(f)
Other current assets |
12.510 |
2.580 |
4.924 |
|
Total
Current Assets |
2249.362 |
1349.635 |
387.744 |
|
|
|
|
|
|
TOTAL |
7040.935 |
3829.826 |
2654.275 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
7140.602 |
4,958.539 |
397.403 |
|
|
|
|
Other Income |
(23.512) |
9.039 |
1.171 |
|
|
|
|
TOTAL (A) |
7117.090 |
4,967.578 |
398.574 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
6004.117 |
4,369.151 |
332.894 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(59.783) |
(112.314) |
(53.127) |
|
|
|
|
Employee Benefits Expenses |
62.763 |
47.768 |
8.761 |
|
|
|
|
Other Expenses |
430.984 |
230.465 |
44.227 |
|
|
|
|
TOTAL (B) |
6438.081 |
4,535.070 |
332.755 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
679.009 |
432.508 |
65.819 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
266.746 |
165.400 |
29.046 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
412.263 |
267.108 |
36.773 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/ AMORTISATION (F) |
164.380 |
120.864 |
21.698 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
247.883 |
146.244 |
15.075 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
44.513 |
81.779 |
25.625 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
203.370 |
64.465 |
(10.550) |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
54.084 |
(10.381) |
0.169 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
257.454 |
54.084 |
(10.381) |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
809.900 |
318.207 |
0.000 |
|
|
|
TOTAL EARNINGS |
809.900 |
318.207 |
0.000 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
NA |
222.562 |
1.519 |
|
|
|
TOTAL IMPORTS |
NA |
222.562 |
1.519 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
43.30 |
14.85 |
(5.47) |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / sales |
(%) |
2.85 |
1.30 |
(2.65) |
|
|
|
|
|
|
|
Profit Operating Margin (PBIDT/Sales) |
(%) |
9.51 |
8.72 |
16.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.53 |
3.98 |
0.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.16 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.94 |
2.42 |
4.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.36 |
1.16 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
19.851 |
43.417 |
46.960 |
|
Reserves & Surplus |
420.378 |
851.314 |
1423.202 |
|
Net worth |
440.229 |
894.731 |
1470.162 |
|
|
|
|
|
|
long-term borrowings |
1754.540 |
1802.930 |
3741.273 |
|
Short term borrowings |
38.360 |
363.147 |
579.386 |
|
Total borrowings |
1792.900 |
2166.077 |
4320.659 |
|
Debt/Equity ratio |
4.073 |
2.421 |
2.939 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
397.403 |
4958.538 |
7140.602 |
|
|
|
1,147.735 |
44.006 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
397.403 |
4958.538 |
7140.602 |
|
Profit |
(10.550) |
64.465 |
203.370 |
|
|
(2.65%) |
1.30% |
2.85% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
|
Particular |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Current maturities of long-term debt |
211.425 |
209.989 |
150.163 |
|
|
|
|
|
|
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 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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
PERFORMANCE:
The Company has earned income of Rs. 7149.000 Millions compared to last year’s income of Rs. 4967.600 Millions. The Company has earned Profit before Tax of Rs. 247.900 Millions as compared to last year’s profit of Rs. 146.200 Millions. The Net Profit during the year is Rs. 203.400 Millions as compared to last year’s profit of Rs. 64.500 Millions during the previous year. Your Company expects to have better performance during the current year.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Interoperate borrowings |
562.854 |
285.288 |
|
Total |
562.854 |
285.288 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10414082 |
19/04/2014 * |
1,601,630,000.00 |
PNB INVESTMENT SERVICES LIMITED |
Motor Sales and Services Building, Ashram Road, Motor Sales and Services Building, Ashram Road, Ahmedabad, Gujarat - 380009, India |
C04288874 |
|
2 |
10414083 |
19/04/2014 * |
2,701,630,000.00 |
PNB INVESTMENT SERVICES LIMITED |
Motor Sales and Services Building,, Ashram Road, Ahmedabad, Gujarat - 380009, India |
C04293130 |
|
3 |
10397651 |
19/12/2012 |
1,165,753,368.00 |
KBC BANK DEUTSCHLAND AG |
Export Finance Department, Wachstrasse 16, Bremen - 28195, Germany |
B66119975 |
|
4 |
10343631 |
03/02/2012 |
1,100,000,000.00 |
PUNJAB NATIONAL BANK |
Mid Corporate Branch, 12/14, Brady House, V.N. Road, Fort, Mumbai, Maharashtra - 400023, India |
B35605591 |
|
5 |
10343635 |
03/02/2012 |
1,100,000,000.00 |
PUNJAB NATIONAL BANK |
Mid Corporate Branch, 12/14, Brady House, V.N. Road, Fort, Mumbai, Maharashtra - 400023, India |
B35607514 |
|
6 |
10299434 |
03/02/2012 * |
1,820,000,000.00 |
ORIENTAL BANK OF COMMERCE |
Large Corporate Branch, 181-A, Maker Tower 'E', 18th Floor, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B35606219 |
|
7 |
10299431 |
15/06/2011 |
370,000,000.00 |
ORIENTAL BANK OF COMMERCE |
Large Corporate Branch, 181-A, Maker Tower 'E', 18th Floor, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B17771981 |
|
8 |
10294365 |
11/05/2011 |
350,000,000.00 |
PUNJAB NATIONAL BANK |
Mcb, Brady House,, V. N. Road, Fort, Mumbai, Maharashtra - 400023, India |
B15885304 |
|
9 |
10278706 |
19/02/2011 |
350,000,000.00 |
PUNJAB NATIONAL BANK |
Mcb, Brady House,, V. N. Road, Fort, Mumbai, Maharashtra - 400023, India |
B10079861 |
|
10 |
10278708 |
19/02/2011 |
350,000,000.00 |
PUNJAB NATIONAL BANK |
Mcb, Brady House,, V. N. Road, Fort, Mumbai, Maharashtra - 400023, India |
B10080026 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
·
Office Equipments
·
Leasehold improvements
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 records 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] 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.61.38 |
|
|
1 |
Rs.98.00 |
|
Euro |
1 |
Rs.76.98 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MTN |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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.