MIRA
INFORM REPORT
|
Report Date : |
26.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
VARDHMAN CHEMTECH LIMITED |
|
|
|
|
Registered
Office : |
SCO 350-352, 3rd Floor, Sector- 34A, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
21.08.1996 |
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|
Com. Reg. No.: |
16-018656 |
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Capital
Investment / Paid-up Capital : |
Rs. 890.011 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24117CH1996PLC018656 |
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|
|
IEC No.: |
Not Divulged |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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|
|
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PAN No.: [Permanent Account No.] |
AABCV3290P |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Bulk Drugs. |
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (19) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating takes into consideration the delay by the company in servicing
its debt and heavy loss incurred by the company during FY 2013. However, business is active. Payments terms are reported to be slow. The company can be considered for business dealings on a secured 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
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 Rating (D) |
|
Rating Explanation |
Lowest credit quality very low prospects recovery. |
|
Date |
July 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. Rohit |
|
Designation : |
Logistic Department |
|
Contact No.: |
91-9914013487 |
|
Date : |
25.11.2014 |
LOCATIONS
|
Registered Office / Corporate Office: |
SCO 350-352, 3rd Floor, Sector- 34A, Chandigarh
- 160022, Punjab, India |
|
Tel. No.: |
91-172-4642918, 2621733 |
|
Mobile No.: |
91-9914013487 (Mr. Rohit) |
|
Fax No.: |
91-172-4676918 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Factory 1 : |
D-6 and 7, Focal Point- Industrial Area. Derabassi,
District Mohali, |
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Factory 2 : |
Village - Nimbua. P.O. Rampur Sainian, Dera Bassi,
District Mohali, |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Suyog Jain |
|
Designation : |
Managing Director |
|
Address : |
#2216, Sector-21C, |
|
Date of Birth/Age : |
29.08.1965 |
|
Date of Appointment : |
21.08.1996 |
|
DIN No.: |
00451519 |
|
|
|
|
Name : |
Mr. Vivek Gupta |
|
Designation : |
Director |
|
Address : |
#3-14, Sector – 27D, Chandigarh, Panjab, India |
|
Date of Birth/Age : |
25.02.1954 |
|
Date of Appointment : |
15.04.2004 |
|
DIN No.: |
00451183 |
|
|
|
|
Name : |
Mr. Rajinder Singh Gujaral |
|
Designation : |
Director |
|
Address : |
#62, Sector 20-A, Chandigarh, Panjab, India |
|
Date of Birth/Age : |
12.08.1965 |
|
Date of Appointment : |
15.04.2004 |
|
DIN No.: |
00451317 |
|
|
|
|
Name : |
Mr. Sanjay Kumar Randhar |
|
Designation : |
Director |
|
Address : |
#11-A, 6th Floor, Laxminarayan Apartment, 39 Tagore Road, Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Date of Birth/Age : |
19.11.1960 |
|
Date of Appointment : |
27.02.2012 |
|
DIN No.: |
01570857 |
|
|
|
|
Name : |
Mr. Vellore Sambamurthy Maniam |
|
Designation : |
Director |
|
Address : |
H. No. 823, Sector- 10, Panchkula – 134009, Haryana, India |
|
Date of Birth/Age : |
02.10.1957 |
|
Date of Appointment : |
27.03.2010 |
|
DIN No.: |
02902121 |
|
|
|
|
Name : |
Mr. Arun Kumar Purwar |
|
Designation : |
Director |
|
Address : |
#C-2303/4, Floor -23, Ashok Tower, 63/7-4, Dr. SS Rao Road, Parel,
Mumbai – 400012, Maharashtra, India |
|
Date of Birth/Age : |
14.05.1946 |
|
Date of Appointment : |
27.02.2012 |
|
DIN No.: |
00026383 |
KEY EXECUTIVES
|
Name : |
Mr. Rohit |
|
Designation : |
Logistic Department |
|
|
|
|
Name : |
Mr. Sandeep Aggarwal |
|
Designation : |
Secretary |
|
Address : |
H.No.916, Sector 12A, Panchkula, Haryana, India |
|
Date of Birth/Age : |
|
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
ABZPA5951A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders (Equity
Shares) |
|
No. of Shares |
|
Suyog Jain |
|
7483060 |
|
Vivek Gupta |
|
2470250 |
|
Rajinder Singh Gujral |
|
1811440 |
|
Sanmati Distributors Private Limited |
|
1117600 |
|
Supersonic Dealcom Private Limited |
|
4720180 |
|
Sangeeta Jain |
|
537800 |
|
N.K. Bandal |
|
221000 |
|
Rekha Gupta |
|
50500 |
|
Surpreet Gujral |
|
22950 |
|
Shashil Bansal |
|
19000 |
|
Shashil Kumar Bansal |
|
7000 |
|
IL and FS Trust Company Limited |
|
100 |
|
Vardhman Bio Sciences Private Limited |
|
542250 |
|
Total |
|
19003130 |
|
Names of
Shareholders (Preference Shares) |
|
No. of Shares |
|
IL and FS Trust Company Limited |
|
6999800 |
|
Total |
|
6999800 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
33.57 |
|
Directors or relatives of Directors |
66.43 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Bulk Drugs. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Bulk Drugs. |
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Countries : |
·
Pakistan ·
Bangladesh ·
Sri Lanka ·
Nepal |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Cash / L/C / Credit |
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Purchasing : |
Cash / L/C / Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
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No. of Employees : |
500 (Approximately) |
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Bankers : |
State Bank of India, SCO 103-106, Sector 17-B, Chandigarh - 160017, Punjeb, India
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Facilities : |
(Rs.
In Millions)
|
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Banking
Relations : |
--- |
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|
Finance Institutions : |
· Punjab Kashmir Finance Limited, 16 Defence Colony, Jalandhar City, Punjab - 144001, Punjab, India · Religare Finvest Limited, D3, P3B, District Centre, Saket, New Delhi - 110017, India ·
Intec Capital Limited, 701, Manjusha, 57 Nehru
Place, New Delhi - 110019, India |
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|
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Auditors : |
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|
Name : |
Walker, Chandiok and Company Chartered Accountants |
|
Address : |
L 41, Connaught Circus New Delhi, India |
|
PAN No.: |
AAAFW4298E |
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|
|
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Associate : |
Vardhman Life science Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
7,000,000 |
Preference Shares |
Rs.100/- each |
Rs.700.000 Millions |
|
|
Total |
|
Rs.1000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19,003,130 |
Equity Shares |
Rs.10/- each |
Rs.190.031 Millions |
|
6,999,800 |
Preference Shares |
Rs.100/- each |
Rs.699.980
Millions |
|
|
Total |
|
Rs.890.011 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 |
890.011 |
186.946 |
146.210 |
|
(b) Reserves & Surplus |
1120.604 |
1155.851 |
457.111 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
699.980 |
82.500 |
|
Total
Shareholders’ Funds (1) + (2) |
2010.615 |
2042.777 |
685.821 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
314.778 |
455.594 |
586.101 |
|
(b) Deferred tax liabilities (Net) |
139.286 |
38.172 |
38.172 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
454.064 |
493.766 |
624.273 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
830.496 |
911.754 |
742.145 |
|
(b) Trade payables |
768.552 |
884.344 |
505.057 |
|
(c) Other current liabilities |
332.462 |
316.820 |
97.289 |
|
(d) Short-term provisions |
5.885 |
21.067 |
50.818 |
|
Total Current Liabilities (4) |
1937.395 |
2133.985 |
1395.309 |
|
|
|
|
|
|
TOTAL |
4402.074 |
4670.528 |
2705.403 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1124.124 |
1065.316 |
977.480 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
43.275 |
0.000 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1217.250 |
83.950 |
125.797 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
98.541 |
941.792 |
5.457 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
30.262 |
|
Total Non-Current Assets |
2439.915 |
2134.333 |
1138.996 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
763.063 |
735.483 |
624.448 |
|
(c) Trade receivables |
991.063 |
1112.150 |
546.333 |
|
(d) Cash and cash
equivalents |
134.195 |
550.203 |
150.215 |
|
(e) Short-term loans and
advances |
65.722 |
122.953 |
245.411 |
|
(f) Other current assets |
8.116 |
15.406 |
0.000 |
|
Total Current Assets |
1962.159 |
2536.195 |
1566.407 |
|
|
|
|
|
|
TOTAL |
4402.074 |
4670.528 |
2705.403 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3760.968 |
3550.953 |
2286.225 |
|
|
|
Other Income |
11.338 |
8.490 |
5.011 |
|
|
|
TOTAL (A) |
3772.306 |
3559.443 |
2291.236 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
3174.888 |
3040.585 |
1917.547 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(70.591) |
(260.391) |
(125.130) |
|
|
|
Employees benefits expense |
84.342 |
74.626 |
23.525 |
|
|
|
Other expenses |
297.966 |
323.894 |
171.529 |
|
|
|
TOTAL (B) |
3486.605 |
3178.714 |
1987.471 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
285.701 |
380.729 |
303.765 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
205.403 |
174.270 |
128.350 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
80.298 |
206.459 |
175.415 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
68.969 |
59.878 |
35.120 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
11.329 |
146.581 |
140.295 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
105.192 |
29.331 |
30.623 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(93.863) |
117.250 |
109.672 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(5.02) |
7.74 |
7.50 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
3750.000 |
|
|
|
|
|
Expected Sales (2014-15) : Rs. 4000.000 Millions
The above information has been parted by Mr. Rohit
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(2.50) |
3.30 |
4.80 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.60 |
10.72 |
13.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.36 |
3.23 |
5.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.07 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.57 |
0.67 |
1.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01 |
1.19 |
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 |
146.210 |
186.946 |
890.011 |
|
Reserves & Surplus |
457.111 |
1155.851 |
1120.604 |
|
Share Application money
pending allotment |
82.500 |
699.980 |
0.000 |
|
Net worth |
685.821 |
2042.777 |
2010.615 |
|
|
|
|
|
|
long-term borrowings |
586.101 |
455.594 |
314.778 |
|
Short term borrowings |
742.145 |
911.754 |
830.496 |
|
Total borrowings |
1328.246 |
1367.348 |
1145.274 |
|
Debt/Equity ratio |
1.937 |
0.669 |
0.570 |
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 |
2286.225 |
3550.953 |
3760.968 |
|
|
|
55.319 |
5.914 |
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 |
2286.225 |
3550.953 |
3760.968 |
|
Profit |
109.672 |
117.250 |
(93.863) |
|
|
4.80% |
3.30% |
(2.50%) |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
NATURE OF OPERATIONS-
Subject is engaged in the business of manufacturing bulk drugs, intermediaries and fine chemicals in India, of both, oral and sterile nature. It was incorporated in 1996. The registered office of the Company is situated at Chandigarh.
OPERATIONS
The turnover of the Company for the year was Rs. 3760.968 Millions and other income Rs 11.338 Millions as compared to Rs 3550.953 Millions and Rs.8.490 Millions respectively in the previous year. The Company has suffered losses amounting to Rs 93.863 Millions as compared to profit amounting to Rs 117.250 Millions in the previous year. The Company's turnover has increased during the period as compared to previous year. However the Company's profitability has decreased during the period as co mpared to previous year due to increase in financial expenses due to hike in interest rates and bad scenario in Industry. The Directors are optimistic about the improvement in market scenario in the near future. The research and development activities are being encouraged in order to compete in the market.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10516610 |
20/08/2014 |
7,300,000.00 |
PUNJAB RELIABLE INVESTMENTS PRIVATE LIMITED |
16, DEFENCE COLONY, JALANDHAR, PUNJAB - 144001, INDIA |
C18042820 |
|
2 |
10507211 |
24/05/2014 |
2,683,800,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, SCO 103-108,, SECTOR- 8C, CHANDIGARH, CHANDIGARH - 160008, INDIA |
C09984220 |
|
3 |
10414336 |
29/03/2013 |
15,000,000.00 |
PUNJAB KASHMIR FINANCE LIMITED |
16 DEFENCE COLONY, JALANDHAR CITY, PUNJAB, PUNJAB - 144001, INDIA |
B71559470 |
|
4 |
10374657 |
06/09/2012 |
1,700,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH SCO 103-108, SECTOR 8C, CHANDIGARH, CHANDIGARH - 160008, INDIA |
B57351934 |
|
5 |
10334272 |
23/12/2011 |
200,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH SCO 103-108, SECTOR 8C, CHANDIGARH, CHANDIGARH - 160008, INDIA |
B31562804 |
|
6 |
10316478 |
27/09/2011 |
20,000,000.00 |
PUNJAB RELIABLE INVESTMENTS PRIVATE LIMITED |
16DEFENCE COLONY, JALANDHAR, PUNJAB, PUNJAB - 144001, INDIA |
B24860835 |
|
7 |
10303690 |
30/07/2011 |
10,000,000.00 |
RELIGARE FINVEST LIMITED |
D3, P3B,, DISTRICT CENTRE, SAKET, NEW DELHI, DELHI - 110017, INDIA |
B19391259 |
|
8 |
10258719 |
16/12/2010 |
400,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH SCO 103-107, SECTOR 8, CHANDIGARH, CHANDIGARH - 160009, INDIA |
B02903243 |
|
9 |
10263685 |
15/12/2010 |
400,000,000.00 |
STATE BANK OF HYDERABAD |
SCO 62-63, SECTOR 34-A, CHANDIGARH, CHANDIGARH - 160022, INDIA |
B05250568 |
|
10 |
10256409 |
23/11/2010 |
400,000,000.00 |
STATE BANK OF INDIA |
SCO 103-106, SECTOR 17-B, CHANDIGARH, CHANDIGARH - 160017, INDIA |
B02053627 |
|
11 |
10257915 |
19/11/2010 |
100,000,000.00 |
L & T FINANCE LIMITED |
L&T HOUSE,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
B02589653 |
|
12 |
10228534 |
03/09/2011 * |
250,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B22304224 |
|
13 |
10208476 |
23/12/2010 * |
550,000,000.00 |
ALLAHABAD BANK |
MADHYA MARG BRANCH, SECTOR 8, MADHYA MARG, CHANDIGARH, CHANDIGARH - 160018, INDIA |
B04648705 |
|
14 |
10126638 |
08/10/2008 |
109,500,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH SCO 103-107, SECTOR 8, CHANDIGARH, CHANDIGARH - 160009, INDIA |
A48590053 |
|
15 |
10066146 |
03/08/2007 |
105,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH SCO 103-107, SECTOR 8, CHANDIGARH, CHANDIGARH - 160009, INDIA |
A22466445 |
|
16 |
90180822 |
23/12/2011 * |
880,200,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH SCO 103-107, SECTOR 8, CHANDIGARH, CHANDIGARH - 160009, INDIA |
B30420178 |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
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 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.61.92 |
|
|
1 |
Rs.97.12 |
|
Euro |
1 |
Rs.76.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
-- |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
19 |
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.