MIRA INFORM REPORT
|
Report Date : |
01.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
GUJARAT FLOTEX PRIVATE LIMITED |
|
|
|
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Registered
Office : |
407, “Shashwat”, Near Kanak Hotel, |
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|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
15.12.2000 |
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Com. Reg. No.: |
04-039072 |
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Capital
Investment / Paid-up Capital : |
Rs.10.315 Millions |
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|
|
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CIN No.: [Company Identification
No.] |
U17118GJ2000PTC039072 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMG01878C |
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PAN No.: [Permanent Account No.] |
AABCG4542P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Importer and Exporter of Floked Cotton Fabrics, Floked
Synthetic Fabrics and Textile Dust (Flock), Raised Knitted Fabrics. |
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No. of Employees
: |
180 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 570000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. General financial position of the company is normal and acceptable for
business dealings. Trade relations are reported as fair. Business is active. Payments
terms are reported to be usually correct. The company can be considered normal 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.
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 |
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High |
B2 |
|
Very High |
C1 |
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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 |
CRISIL |
|
Rating |
Long Term Rating=BB+ |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
07.10.2013 |
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. Jay Prakash Tosniwal |
|
Designation : |
Director |
|
Contact No.: |
91-79-26563204 |
|
Date : |
25.09.2014 |
LOCATIONS
|
Registered Office : |
407, “Shashwat”, Near Kanak Hotel, |
|
Tel. No.: |
91-79-26563204 / 26425927 / 91-2764-233063 |
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Fax No.: |
91-79-26424756 / 91-2764-232046 |
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E-Mail : |
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Website : |
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Area : |
2000 sq. ft. |
|
Location : |
Owned |
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Factory : |
1039/ 2, |
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Tel. No.: |
91-2764-233063 |
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Area : |
1500 sq. ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 10.09.2013
|
Name : |
Mr. Vikas Chanchalraj Mehta |
|
Designation : |
Director |
|
Address : |
4, Tejal Apartments, Opposite Sankola Apartment, Near New Alkapuri Society,
Ambawadi, Ahmedabad – 380 006, |
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Date of Birth/Age : |
15.12.1975 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
15.12.2000 |
|
DIN No.: |
00059317 |
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|
|
|
Name : |
Mr. Jay Prakash Kailash Chandra Tosniwal |
|
Designation : |
Director |
|
Address : |
203, Sukhdham Flats Opposite Municipal Market, |
|
Date of Birth/Age : |
16.10.1974 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
15.12.2000 |
|
DIN No.: |
00093574 |
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|
|
|
Name : |
Mrs. Nisha Tosniwal |
|
Designation : |
Director |
|
Address : |
203, Sukhdham Apartment, Opposite Municipal Market, C. G. Road,
Ahmedabad - 380 009, Gujarat, India |
|
Date of Birth/Age : |
18.04.1974 |
|
Date of Appointment : |
15.04.2011 |
|
DIN No.: |
03517907 |
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|
|
|
Name : |
Mrs. Priya Vikash Mehta |
|
Designation : |
Director |
|
Address : |
4, Tezal Appartment, Opposite, Sankul Apartment, Gulbai Tekra,
Ahmedabad - 380015, Gujarat, India |
|
Date of Birth/Age : |
27.12.1977 |
|
Date of Appointment : |
15.04.2011 |
|
DIN No.: |
03517943 |
KEY EXECUTIVES
|
Name : |
Mr. Jignesh |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS
AS ON 10.09.2013
|
Names of Shareholders |
No. of Shares |
|
Jay Prakash Tosniwal |
243000 |
|
Vikas Mehta |
326000 |
|
Vikas Tosniwal |
45000 |
|
Priya Mehta |
87500 |
|
Nisha Tosniwal |
70000 |
|
Nisha Vikas Tosniwal |
2000 |
|
Sweta Mehta |
6000 |
|
Mirjamal Tosniwala HUF |
45000 |
|
Mirjamal Tosniwala |
20000 |
|
Vishal Tosniwala |
5000 |
|
Jay Prakash Tosniwal HUF |
10000 |
|
Vikas Mehta HUF |
5500 |
|
C.R. Mehta HUF |
4500 |
|
Madhu Mehta |
4500 |
|
Western Flock Private Limited |
150000 |
|
Vyom Exim Private Limited |
6000 |
|
Deepak Rathi |
1500 |
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|
|
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Total |
1031500 |
Equity Share Break up (Percentage of Total Equity)
AS ON 10.09.2013
|
Category |
Percentage |
|
Bodies corporate |
14.54 |
|
Directors or relatives of Directors |
85.46 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of Floked Cotton Fabrics,
Floked Synthetic Fabrics and Textile Dust (Flock), Raised Knitted Fabrics. |
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Products : |
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Exports : |
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Products : |
Finished Good |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Laxmi Techno Textile Private Limited |
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Customers : |
Novelty Fabric LLP |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
·
State Bank of India, Laghu Udhyog Branch,
Opposite Gandhidham Railway Station, Gandhidham, Ahmedabad – 380009, Gujarat,
India ·
Andhra Bank, 41, Parimal Society, C.G. Road,
Ahmedabad – 380 006, Gujarat, India ·
HDFC
Bank Limited, Navrangpura, Ahmedabad, Gujarat, India |
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Facilities : |
Cash Credit Rs. 180.000 Millions From State Bank of India
NOTES: Long Term Borrowings: From State Bank
of India Secured T e r m
Loan:- a)
Terms of Repayments:- The term loan
from the SBI includes Total Six categories of term Loans. The terms of the
terms of the same are as under: 1)
Term loan I - As per sanction letter this loan 18
repayable in 60 monthly installments of Rs.0.198 Million (excluding Interest
on term loan outstanding) starting from 14/10/2009. 2)
Term loan II - As per sanction letter this loan
is repayable In 60 monthly installments of Rs.0.917 Million (excluding interest
on term loan outstanding) starting from 01/10/2010. 3)
Term loan Ill - As per sanction Letter this loan
is repayable In 50 monthly installments of Rs.0.100 Million (excluding
Interest on term loan outstanding) starting from 01/04/2011. 4)
Term loan IV - As per sanction letter this Loan
is repayable in 75 monthly installments of Rs.0.426 Million (excluding
interest on term loan outstanding) starting from 1st July 2012. 5)
Open Term Loan (Existing) - As per sanction
letter this loan is repayable in 60 monthly installments of Rs.020 Million
(excluding interest on term loan outstanding starting from December 2012. 6)
Open Term Loan (New) - As per sanction letter
this loan repayable in 36 monthly installments of Rs.0.069 Million (excluding
Interest on term loan outstanding l starting from the next month of
disbursement of loan. b)
Security offered against the Term Loan:- ·
Primary Security: Hypothecation
of Plant and machinery out from Term Loan. ·
Guarantee : 1)
Shri Jay Prakash Toshniwal 2)
Shri Vikas Mehta 3)
Smt. Nisha Toshniwal 4)
Smt. Priya V Mehta ·
Collateral Security : Registered
Mortgage of Factory Land and Building situated at Plot No.103912. Kadi
Chaatral Road, Chhatral. Block No. 1039/paikee, sub Plot no.2 at mouje
Chhatral admeasuring land area of 39647 sq. mtrs and construction admeasuring
6617.40 sq. mtrs. In the name of company. ·
Interest Rate:- At the rate of
3.35% above the Base rate which at the time of sanction is 9.75% p.a.
Accordingly the effective rate is 13.10% p.a. calculated on dally product at
monthly rests Vehicle Loan
from Kotak Mahindra Prime Limited:- The Loan is
repayable in 36 Monthly Installments of Rs.0.059 monthly (including
interest). Such loan is secured by hypothecation of the respective vehicles. Short Term
Borrowings: Terms of Working
Capital Facilities :- 1)
Primary Security: - Hypothecation of entire
Current Assets of the Company including Receivables. 2)
Guarantee and Collateral Security: - The Working
capital facilities are further secured by the common securities as noted in
the Note 3(b) (ii) and (iii) as above. 3)
Rate of Interest: - At the rate of 3.25% above
the Base rate which at the time of sanction is 9.75% p.a. accordingly the
effective rate is 13.00% p.a. calculated on daily product at monthly rest and
also Interest rate on facilities extended in Foreign Currency shall, be
linked to LIBOR Rates. |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Surana Maloo and Company Chartered Accountants |
|
Address : |
404, 4th Floor, Shival Plaza, Gujarat College Road,
Ellisbridge, Ahmedabad – 380 006, Gujarat, India |
|
Tel. No.: |
91-79-26420336/7/8/9 |
|
Fax No.: |
91-79-26424100 |
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E-Mail : |
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PAN No.: |
AAHFS7809J |
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Enterprises over
which Key Managerial Personnel are able to exercise significant influence: |
Vyom Exim Private Limited |
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|
|
Sister Concern : |
Western Flotex Private Limited |
CAPITAL STRUCTURE
After 10.09.2013
Authorised Capital : Rs. 15.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 14.820
Millions
AS ON 10.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1031500 |
Equity Shares |
Rs.10/- each |
Rs.10.315 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 |
10.315 |
12.525 |
12.525 |
|
(b) Reserves & Surplus |
131.544 |
123.927 |
109.736 |
|
(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) |
141.859 |
136.452 |
122.261 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
70.189 |
91.969 |
79.301 |
|
(b) Deferred tax liabilities (Net) |
16.281 |
16.740 |
14.917 |
|
(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) |
86.470 |
108.709 |
94.218 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
133.224 |
106.304 |
85.989 |
|
(b) Trade
payables |
81.788 |
63.446 |
40.323 |
|
(c) Other
current liabilities |
23.731 |
14.715 |
0.000 |
|
(d) Short-term
provisions |
1.974 |
1.175 |
2.180 |
|
Total Current
Liabilities (4) |
240.717 |
185.640 |
128.492 |
|
|
|
|
|
|
TOTAL |
469.046 |
430.801 |
344.971 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
170.228 |
186.674 |
143.916 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.378 |
3.378 |
2.368 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
173.606 |
190.052 |
146.284 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
160.919 |
120.117 |
93.146 |
|
(c) Trade
receivables |
120.828 |
108.138 |
85.842 |
|
(d) Cash and
cash equivalents |
9.598 |
4.638 |
11.435 |
|
(e)
Short-term loans and advances |
2.637 |
5.259 |
5.300 |
|
(f) Other
current assets |
1.458 |
2.597 |
2.964 |
|
Total
Current Assets |
295.440 |
240.749 |
198.687 |
|
|
|
|
|
|
TOTAL |
469.046 |
430.801 |
344.971 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
855.424 |
721.181 |
499.789 |
|
|
|
Other Income |
4.588 |
3.204 |
0.866 |
|
|
|
TOTAL (A) |
860.012 |
724.385 |
500.655 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
626.594 |
517.846 |
350.442 |
|
|
|
Changes in inventories of finished goods work-in-progress and Stock-in-Trade |
(11.569) |
(9.815) |
(25.044) |
|
|
|
Manufacturing Expenses |
0.000 |
0.000 |
104.376 |
|
|
|
Employee benefits expense |
20.958 |
18.810 |
17.020 |
|
|
|
Office & Administrative Expenses |
0.000 |
0.000 |
6.347 |
|
|
|
Other Expenses |
160.732 |
138.598 |
0.000 |
|
|
|
Extraordinary Items |
(26.043) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
770.672 |
665.439 |
453.141 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
89.340 |
58.946 |
47.514 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
24.342 |
21.191 |
12.672 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
64.998 |
37.755 |
34.842 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
20.792 |
17.059 |
13.646 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
44.206 |
20.696 |
21.196 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.173 |
6.505 |
8.085 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
33.033 |
14.191 |
13.111 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
26.46 |
11.33 |
10.47 |
|
|
Particulars |
|
|
31.03.2014 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
1070.000 |
|
|
|
|
|
The above information has been parted by Mr. Jay Prakash Tosniwal
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.84 |
1.96 |
2.62 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.17 |
2.87 |
4.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.42 |
4.80 |
6.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.15 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.43 |
1.55 |
1.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.30 |
1.55 |
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 |
12.525 |
12.525 |
10.315 |
|
Reserves & Surplus |
109.736 |
123.927 |
131.544 |
|
Net
worth |
122.261 |
136.452 |
141.859 |
|
|
|
|
|
|
long-term borrowings |
79.301 |
91.969 |
70.189 |
|
Short term borrowings |
85.989 |
106.304 |
133.224 |
|
Total
borrowings |
165.290 |
198.273 |
203.413 |
|
Debt/Equity
ratio |
1.352 |
1.453 |
1.434 |
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 |
499.789 |
721.181 |
855.424 |
|
|
|
44.297 |
18.614 |
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
|
499.789 |
721.181 |
855.424 |
|
Profit |
13.111 |
14.191 |
33.033 |
|
|
2.62% |
1.97% |
3.86% |
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 |
Yes |
|
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 |
Yes |
|
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 |
NOTE:
Registered office
of the company has been shifted from 1039/ 2, Kadi Chhatral Road Chhatral Taluka –
Kalol, District: Gandhi Naga, Gujarat to the present address w.e.f.
31.03.2008.
CORPORATE
INFORMATION:
Subject is a
private limited company domiciled in India and incorporated under the
provisions of the Companies Act, 1956. Subject is engaged in Manufacturing of
Floked Cotton Fabrics, Floked Synthetic Fabrics and Textile Dust (Flock),
Raised Knitted Fabrics.
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
From related
Parties |
7.870 |
8.855 |
|
From Corporate
Bodies |
12.000 |
11.500 |
|
From Shareholders |
1.400 |
1.300 |
|
|
|
|
|
Total |
21.270 |
21.655 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10257565 |
07/12/2010 |
500,000.00 |
STATE
BANK OF INDIA |
LAGHU
UDHYOG BRANCH, OPP. GANDHIGRAM RAILWAY STATION, GANDHIGRAM, AHMEDABAD -
380009, GUJARAT, INDIA |
B02277309 |
|
2 |
10177786 |
08/11/2012
* |
250,800,000.00 |
STATE
BANK OF INDIA |
LAGHU
UDHYOG BRANCH, OPP. GANDHIGRAM RAILWAY STATION, GANDHIGRAM, AHMEDABAD -
380009, GUJARAT, INDIA |
B63281844 |
|
3 |
10177179 |
05/11/2012
* |
250,800,000.00 |
STATE
BANK OF INDIA |
LAGHU
UDHYOG BRANCH, OPP. GANDHIGRAM RAILWAY STATION, GANDHIGRAM, AHMEDABAD -
380009, GUJARAT, INDIA |
B62642533 |
* Date of charge modification
CONTINGENT LIABILITY:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
|
|
|
|
Export Obligation under EPCG (net) |
8.546 |
5.909 |
|
Guarantee |
1.865 |
1.865 |
|
|
|
|
|
Total |
10.411 |
7.774 |
FIXED ASSETS:
·
Freehold Land
·
Factory Building
·
Plant and Machinery
·
Steam Boiler
·
Thermic Heater I
·
Thermic Heater II
·
Energy Saving Equipment
·
ETP Plant
·
Electrical Installation
·
Furniture and Fixture
·
Office Equipment
·
Computers
·
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.61.61 |
|
|
1 |
Rs.100.28 |
|
Euro |
1 |
Rs.78.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done
by: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.