MIRA
INFORM REPORT
|
Report Date : |
25.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
DEMBLA VALVES LIMITED (w.e.f. 20.07.2007) |
|
|
|
|
Formerly Known
As : |
DEMBLA VALVES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-30, Jai Mata Di Compound, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
09.05.1989 |
|
|
|
|
Com. Reg. No.: |
11-051650 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 50.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1989PLC051650 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNED03412D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD9909J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Valves and Importer of Raw Material or
Finished Goods. |
|
|
|
|
No. of Employees
: |
150 (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 |
|
Maximum Credit Limit : |
USD 573000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial
risk profile and loss that company has incurred from its operational
activities. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings with some 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow 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.
OnMobile 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 |
ICRA |
|
Rating |
Long Term Fund Based Limited = (B-) |
|
Rating Explanation |
Risk prone credit quality and carry high credit risk. |
|
Date |
January, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Fund Based Limited = (A4) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
January, 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 PARTED BY
|
Name : |
Mr. Arun Mahale |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-9594439085 |
|
Date : |
21.11.2014 |
LOCATIONS
|
Registered Office/ Factory / Marketing Office : |
C-30, Jai Mata Di Compound, |
|
Tel. No.: |
91-2522-275131/ 241799/ 275104 |
|
Mobile No.: |
91-9594439085 (Mr. Arun Mahale) |
|
Fax No: |
91-2522-275132/ 241700 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2: |
Thane |
|
|
|
|
Service Centre: |
Purna Village, Thane Bhiwandi Agra Road, Thane – 421302, |
DIRECTORS
As on 25.09.2014
|
Name : |
Mr. Kanaiyalal Navalmal Dembla |
|
Designation : |
Whole-time director |
|
Address : |
1403, 14th Floor. A- Wing, Golden Willows, |
|
Date of Birth/Age : |
01.02.1947 |
|
Date of Appointment : |
09.05.1989 |
|
PAN No.: |
ADFPD2496RS |
|
DIN No: |
00966201 |
|
|
|
|
Name : |
Mr. Jayprakash Navalmal Dembla |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 402, 4th Floor, Victoria Classic, Off |
|
Date of Birth/Age : |
13.04.1955 |
|
Date of Appointment : |
09.05.1989 |
|
PAN No.: |
ADEPD2495N |
|
DIN No: |
00966484 |
|
|
|
|
Name : |
Mr. Kapil Kanaiyalal Dembla |
|
Designation : |
Whole-time director |
|
Address : |
A- 1604, |
|
Date of Birth/Age : |
05.10.1977 |
|
Date of Appointment : |
01.01.1998 |
|
PAN No.: |
AECPQ2330Q |
|
DIN No: |
00966398 |
|
|
|
|
Name : |
Mr. Mukund Narayan Katageri |
|
Designation : |
Whole-time director |
|
Address : |
A- 122, Anant Regency, 46 Malviya Road, Opposite Telephone Exchange,
Mulund (West), Mumbai – 400080, Maharashtra, India |
|
Date of Birth/Age : |
30.12.1960 |
|
Date of Appointment : |
01.01.1998 |
|
PAN No.: |
AFKPK2869N |
|
DIN No: |
00966627 |
|
|
|
|
Name : |
Ms. Harsha Vinod Suvarna |
|
Designation : |
Whole-time director |
|
Address : |
A-2501, Runwal Pride, Behind R-Mall, LBS Marg, Mulund (West), Mumbai –
400080, |
|
Date of Birth/Age : |
17.11.1981 |
|
Date of Appointment : |
01.06.2007 |
|
PAN No.: |
ARCPS4130S |
|
DIN No: |
01183675 |
|
Name : |
Snehal Shah |
|
Designation : |
Nominee director |
|
Address : |
D-803, Rakhee, Vasant Utsav, Thakur Village, Kandivali (East), Mumbai
– 400066, Maharashtra, India |
|
Date of Birth/Age : |
18.12.1969 |
|
Date of Appointment : |
26.06.2014 |
|
DIN No.: |
00128595 |
|
|
|
|
Name : |
Siddhartha Mundra |
|
Designation : |
Nominee director |
|
Address : |
b/403, Building No.B, Raheja Heights 239 Film City Road Dindoshi,
Malad E, Mumbai – 400097, Maharashtra, India |
|
Date of Birth/Age : |
04.03.1979 |
|
Date of Appointment : |
26.06.2014 |
|
DIN No.: |
01173240 |
KEY EXECUTIVES
|
Name : |
Mr. Arun Mahale |
|
Designation : |
Accounts Department |
|
Name : |
Rehana Kamil Khan |
|
Designation : |
Secretary |
|
Address : |
A/101, Salman Palace, Near Patel, School, Mumbradevi Road, Thane –
400612, Maharashtra, India |
|
Date of Birth/Age : |
10.02.1989 |
|
Date of Appointment : |
20.08.2014 |
|
PAN No.: |
AVHPK9150B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Kanaiyalal Navalmal Dembla |
|
134788 |
|
Jayprakash Navalmal Dembla |
|
177813 |
|
Kapil Kanaiyalal Dembla |
|
75036 |
|
Manoj Jayprakash Dembla |
|
32011 |
|
Mukund Narayan Katageri |
|
75036 |
|
Pratap Kanaiyalal Dembla |
|
2658 |
|
Harsha Vinod Suvarna |
|
2658 |
|
Reliance Alternative Investments Fund- Private Equity Scheme-I |
|
166667 |
|
Total |
|
666667 |
As on 25.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
75.00 |
|
Venture Capital |
25.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Valves and Importer of Raw Material or
Finished Goods. |
||||
|
|
|
||||
|
Product : |
|
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished goods |
||||
|
Countries : |
·
Spain ·
Germany ·
Italy ·
USA ·
Saudi Arabia |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Supplier : |
Not Divulged |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
End Users |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
150 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
Union Bank of India, Kapurbavdi Branch, Dhanlaxmi
Industrial Estate, Lal Bahadur Shastri Marg, Kapurbavdi, Thane (West), Thane
– 400601, Maharashtra, India Contact
No.: 91-22-21723854 ·
The Saraswat Co-Operative Bank Limited, Thane
Branch, Thane – 400601, Maharashtra, India
·
ICICI Bank Limited |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
R.G Muley and Company Chartered Accountants |
|
Address : |
221/222, Swastik Plaza, Pokhran Road No.2, Thane (West), Thane –
400601, Maharashtra, India |
|
PAN No.: |
AAPPM4897C |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700,000 |
Equity Shares |
Rs. 100/- each |
Rs. 70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
666,667 |
Equity Shares |
Rs. 100/- each |
Rs. 66.666 Millions |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,00,000 |
Equity Shares |
Rs. 100/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,00,000 |
Equity Shares |
Rs. 100/- each |
Rs. 50.000 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 |
50.000 |
50.000 |
50.000 |
|
(b) Reserves & Surplus |
150.285 |
240.147 |
195.706 |
|
(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) |
200.285 |
290.147 |
245.706 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
33.238 |
58.204 |
78.372 |
|
(b) Deferred tax liabilities (Net) |
21.082 |
19.070 |
14.034 |
|
(c) Other long term liabilities |
48.852 |
40.197 |
15.720 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
103.172 |
117.471 |
108.126 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
424.525 |
410.267 |
307.755 |
|
(b) Trade payables |
295.123 |
276.484 |
279.143 |
|
(c) Other current
liabilities |
47.236 |
46.754 |
46.895 |
|
(d) Short-term provisions |
75.092 |
70.677 |
47.017 |
|
Total Current Liabilities (4) |
841.976 |
804.182 |
680.810 |
|
|
|
|
|
|
TOTAL |
1145.433 |
1211.800 |
1034.642 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
270.300 |
279.842 |
274.898 |
|
(ii) Intangible Assets |
5.489 |
6.647 |
7.236 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.025 |
1.025 |
0.025 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.075 |
4.922 |
8.030 |
|
(e) Other Non-current assets |
3.659 |
8.366 |
21.129 |
|
Total Non-Current Assets |
284.548 |
300.802 |
311.318 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
328.844 |
349.018 |
306.704 |
|
(c) Trade receivables |
327.028 |
398.655 |
265.820 |
|
(d) Cash and cash
equivalents |
43.489 |
35.057 |
31.435 |
|
(e) Short-term loans and
advances |
159.915 |
125.732 |
115.752 |
|
(f) Other current assets |
1.609 |
2.536 |
3.613 |
|
Total Current Assets |
860.885 |
910.998 |
723.324 |
|
|
|
|
|
|
TOTAL |
1145.433 |
1211.800 |
1034.642 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
670.256 |
917.661 |
862.213 |
|
|
Other Income |
19.777 |
8.092 |
8.011 |
|
|
TOTAL
(A) |
690.033 |
925.753 |
870.224 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
434.743 |
542.045 |
624.700 |
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(9.881) |
2.521 |
(52.654) |
|
|
Employees benefits expense |
87.213 |
73.178 |
57.256 |
|
|
Other expenditure |
122.727 |
139.262 |
110.720 |
|
|
TOTAL
(B) |
634.802 |
757.006 |
740.022 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
55.231 |
168.747 |
130.202 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
107.588 |
74.443 |
46.789 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(52.357) |
94.304 |
83.413 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
22.824 |
22.026 |
15.412 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(75.181) |
72.278 |
68.001 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
14.682 |
27.836 |
22.722 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
(89.863) |
44.442 |
45.279 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(89.863) |
44.442 |
45.279 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(180.00) |
89.00 |
91.00 |
Expected turnover [2014-2015] Rs. 1300.000 Millions
The above information has been parted by Mr. Arun Mahale
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
(13.41) |
4.84 |
5.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.24 |
18.39 |
15.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.57) |
5.97 |
6.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.38) |
0.25 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.29 |
1.61 |
1.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02 |
1.13 |
1.06 |
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 |
50.000 |
50.000 |
50.000 |
|
Reserves & Surplus |
195.706 |
240.147 |
150.285 |
|
Net
worth |
245.706 |
290.147 |
200.285 |
|
|
|
|
|
|
long-term borrowings |
78.372 |
58.204 |
33.238 |
|
Short term borrowings |
307.755 |
410.267 |
424.525 |
|
Total
borrowings |
386.127 |
468.471 |
457.763 |
|
Debt/Equity
ratio |
1.572 |
1.615 |
2.286 |
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 |
862.213 |
917.661 |
670.256 |
|
|
|
6.431 |
(26.960) |
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 |
862.213 |
917.661 |
670.256 |
|
Profit |
45.279 |
44.442 |
(89.863) |
|
|
5.25% |
4.84% |
(13.41%) |
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
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
|
LITIGATION DETAILS |
||||||||
|
Bench:- Bombay |
|
|||||||
|
Lodging No:- |
SL/1419/2011 |
Failing Date:- |
12.05.2011 |
Reg. No.:- |
S/1479/2011 |
Reg. Date:- |
24.06.2011 |
|
|
|
||||||||
|
Petitioner:- |
BHARAT NAGRAJ KANUNGO |
Respondent:- |
DEMBLA VALVES LIMITED |
|||||
|
Petn.Adv:- |
K.P. DUBEY AND V.S. MISHRA (0) |
Resp.Adv.: |
MR. DEVIDAS HARI KELUSKAR (U/OBJ) (0) |
|||||
|
District:- |
MUMBAI |
|||||||
|
|
||||||||
|
Bench:- |
SINGLE |
Category: |
Suits for goods sold and delivered |
|||||
|
Status:- |
Transferred |
Stage:- |
Transferred to
civil court |
|||||
|
Transfer Date:- |
03.10.2012 |
|||||||
|
Act:- |
Code of Civil Procedure 1908 |
|||||||
PERFORMANCE OF THE
COMPANY:
During the year under review, the level of sales stood at Rs.670.092 Millions (prev. yr. Rs. 925.752 Millions) registering a decline of 27.62%. The Company has registered a total loss of Rs. 86.263 Millions as compared to the profit of Rs. 44.442 Millions for previous year.
The loss is the result of less sales during the year. Loss from Forex and on account of provision of Gratuity for past years in this year. Since the domestic market for last 2 years is not stable the realization of payments from the EPC customer was a big problem which was badly affecting the working. So knowingly your company decided to shift the focus from domestic market to Export market & to develop the New market for export business requires time. This shift of business and Domestic market situation resulted in less sales snd in turn the loss.
However the directors are hopeful for the good performance of the company in the coming years.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long-term
borrowings |
|
|
|
Rupee term loans from banks |
1.038 |
0.000 |
|
Term loans from others |
3.696 |
7.097 |
|
Loans and advances from directors |
2.020 |
2.020 |
|
Short-term
borrowings |
|
|
|
Term loans from banks |
2.887 |
2.445 |
|
Term loans from others |
13.761 |
15.057 |
|
Public deposits |
38.075 |
38.476 |
|
Total |
61.477 |
65.095 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10519936 |
03/09/2014 |
400,000.00 |
UNION BANK OF INDIA |
KAPURBAVDI BRANCH, DHANLAXMI INDUSTRIAL ESTATE,, |
C20615589 |
|
2 |
10509865 |
11/07/2014 |
1,469,000.00 |
UNION BANK OF INDIA |
KAPURBAVDI BRANCH, DHANLAXMI INDUSTRIAL ESTATE,, |
C11927597 |
|
3 |
10488284 |
12/04/2014 |
18,800,000.00 |
UNION BANK OF INDIA |
UNION BANK OF INDIA, GOKUL NAGAR, OLD AGROA ROAD, |
C02121333 |
|
4 |
10458610 |
12/11/2013 |
24,000,000.00 |
UNION BANK OF INDIA |
KAPRUBAVADI BRANCH, DHAN LAXMI INDUSTRIAL ESTATE, |
B88925672 |
|
5 |
10450660 |
12/09/2013 |
400,000.00 |
UNION BANK OF INDIA |
KAPURBAVDI BRANCH, DHANLAXMI INDUSTRIAL ESTATE,, |
B85587384 |
|
6 |
10414468 |
25/03/2013 |
10,000,000.00 |
UNION BANK OF INDIA |
KAPRUBAVADI BRANCH, DHAN LAXMI INDUSTRIAL ESTATE, |
B71686380 |
|
7 |
10410521 |
15/02/2013 |
400,000.00 |
UNION BANK OF INDIA |
KAPURBAVDI BRANCH, DHANLAXMI INDUSTRIAL ESTATE,, |
B70336193 |
|
8 |
10410514 |
15/02/2013 |
660,000.00 |
UNION BANK OF INDIA |
KAPURBAVDI BRANCH, DHANLAXMI INDUSTRIAL ESTATE,, |
B70335773 |
|
9 |
10384369 |
15/04/2014 * |
105,000,000.00 |
UNION BANK OF INDIA |
UNION BANK OF INDIA, GOKUL NAGAR, OLD AGROA ROAD, |
C02126472 |
|
10 |
10384360 |
30/10/2012 |
20,000,000.00 |
UNION BANK OF INDIA |
KAPRUBAVADI BRANCH, DHAN LAXMI INDUSTRIAL ESTATE, |
B61303236 |
* Date of charge modification
FIXED ASSETS
· Buildings
· Plant and equipment
· Furniture and fixtures
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record exists
to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.78 |
|
|
1 |
Rs.96.78 |
|
Euro |
1 |
Rs.76.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
--- |
|
--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 |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.