MIRA
INFORM REPORT
|
Report Date : |
07.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
CADMACH MACHINERY COMPANY PRIVATE LIMITED |
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|
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Registered
Office : |
16, Azad Society, Ambawadi, Ahmedabad – 380 015, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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|
Date of
Incorporation : |
06.09.1973 |
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|
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Com. Reg. No.: |
04-002373 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.2.220
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U68186GJ1973PTC002373 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMC01308G |
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|
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PAN No.: [Permanent Account No.] |
AAACC6242R |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing and marketing of
Pharmaceutical Machineries, Spare Parts, Punches and Dies. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 535000 |
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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. There seems some dip in the profit of the company during 2013 however,
networth of the company is good. General financial position of the company is
sound. Trade relations are reported as fair. Business is active. Payment
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 |
|
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 |
CARE |
|
Rating |
Long-Term Bank Facilities: BBB+ |
|
Rating Explanation |
Moderate degree of safety. It carry moderate credit risk. |
|
Date |
July 10, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short-Term Bank Facilities: A2 |
|
Rating Explanation |
Strong degree of safety and low
credit risk. |
|
Date |
July 10, 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 DECLINED
Management Non-Cooperative
Contact No.: 91-79-25841491
LOCATIONS
|
Registered Office : |
16, Azad Society, Ambawadi, Ahmedabad – 380 015, Gujarat, India |
|
Tel. No.: |
91-79-26767467 |
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Fax No.: |
91-79-26868337 |
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E-Mail : |
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|
Website : |
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Head Office/ Factory : |
Plot No.3604 and 3605, GIDC Industrial Estate, Phase IV, Vatva, Ahmedabad – 382 445, Gujarat, India |
|
Tel. No.: |
91-79-25841491/ 92/ 93/ 25841717/ 53 |
|
Fax No.: |
91-79-25842602 |
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E-Mail : |
|
|
Location : |
Owned |
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|
|
Sales Office : |
Located at: ·
·
Chennai ·
·
Kolkata ·
Mumbai ·
|
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|
|
|
International Sales Office : |
Located at: ·
North America ·
Europe |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Jayant Veljibhai Khambhatta |
|
Designation : |
Managing Director |
|
Address : |
44, Jawahar Nagar, Sarkhej Road, Ahmedabad – 380 007, Gujarat, India |
|
Date of Birth/Age : |
07.03.1930 |
|
Date of Appointment : |
01.07.1974 |
|
DIN No : |
00032676 |
|
|
|
|
Name : |
Dr. Sharvil Pankajbhai Patel |
|
Designation : |
Managing Director |
|
Address : |
16, Azad Society, Ambawadi, Ahmedabad – 380 015, Gujarat, India |
|
Date of Birth/Age : |
13.10.1978 |
|
Date of Appointment : |
01.12.2008 |
|
DIN No : |
00131995 |
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|
|
|
Name : |
Mr. Pankaj Ramanbhai Patel |
|
Designation : |
Director |
|
Address : |
16, Azad Society, Ambawadi, Ahmedabad – 380 015, |
|
Date of Birth/Age : |
16.03.1953 |
|
Date of Appointment : |
01.12.2008 |
|
DIN No : |
00131852 |
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|
|
|
Name : |
Mr. Vinitbhai Jayantbhai Khambhatta |
|
Designation : |
Whole-time Director |
|
Address : |
44, Jawahar Nagar, Sarkhej Road, Ahmedabad – 380 007, Gujarat, India |
|
Date of Birth/Age : |
05.08.1961 |
|
Qualification : |
B. Com |
|
Experience : |
20 Years |
|
Date of Appointment : |
16.02.1990 |
|
DIN No : |
00032664 |
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|
|
|
Name : |
Dr. Mukesh Raojibhai Patel |
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Designation : |
Whole-time Director |
|
Address : |
Plot No.293, Sector No.1, Satyagraha Chhavni, Satellite, Ahmedabad – 380 051, Gujarat, India |
|
Date of Birth/Age : |
13.09.1947 |
|
Date of Appointment : |
01.04.2009 |
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DIN No : |
00032104 |
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PAN No.: |
AFUPP4142D |
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|
|
|
Name : |
Mr. Ketanbhai Jayantbhai Khambhatta |
|
Designation : |
Whole-time Director |
|
Address : |
44, Jawahar Nagar, Sarkhej Road, Ahmedabad – 380 007, Gujarat, India |
|
Date of Birth/Age : |
20.01.1970 |
|
Qualification : |
Diploma in Mechanical Engineering |
|
Experience : |
15 Years |
|
Date of Appointment : |
01.11.2005 |
|
DIN No : |
00861301 |
|
PAN No.: |
AFIPK3199K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2013
|
Names of Shareholders |
|
No. of Shares |
|
Zydus Family
Trust |
|
7326 |
|
Ramanbhai B.
Patel with Pankaj Trust |
|
3317 |
|
Parmat
Family Trust |
|
2304 |
|
Jayant
Veljibhai Khambhatta |
|
1986 |
|
Shardaben Jayantilal Khambhatta |
|
1854 |
|
Vinit Jayantilal Khambhatta |
|
1854 |
|
Ketan Jayantilal Khambhatta |
|
1854 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
0.16 |
|
Directors
or relatives of directors |
|
99.84 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and marketing of Pharmaceutical
Machineries, Spare Parts, Punches and Dies. |
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Products : |
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Brand Names : |
‘CADMACH’ |
GENERAL INFORMATION
|
No. of Employees : |
Information declined
by the management. |
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Bankers : |
·
Bank of Baroda, Ashram Road Branch, Ashram Road,
Ahmedabad – 380 009, Gujarat, India ·
Export-Import Bank of India, Centre One Building, Floor 21, World
Trade Centre, Cuffe Parade, Mumbai – 400 005,
Maharashtra, India |
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Facilities : |
Notes: LONG
TERM BORROWINGS Securities for Term Loans
and Terms of repayment: [a] Term loan from ICICI
Bank is secured by hypothecation of specific vehicle purchased by the Company
under the loan. It is repayable in 36 monthly equal instalments of Rs.0.115
million each started from November 15, 2011 including interest @ 9.52% p.a.
The outstanding amount as at March 31, 2013 is Rs.2.020 millions [as at March
31, 2012: Rs.3.153 millions]. [b] Term loan from Bank
of Baroda is secured by way of first pari passu charge by way of an equitable
mortgage of immovable properties and hypothecation of movable plant and
machineries situated at plot nos.3604 and 3605 at G.I.D.C., Vatwa, Ahmedabad,
both present and future, besides second charge on current assets. It is
repayable in monthly equal instalments of Rs.0.333 million each started from
March 31, 2011 along with interest @ 3.75% p.a. over base rate p.a. The
outstanding amount as at March 31, 2013 is Rs. Nil [as at March 31, 2012:
Rs.1.858 millions. [c] Term loan from Financial
Institution is secured by first pari passu charge by way of an equitable
mortgage of immovable properties and hypothecation of movable fixed assets
situated at plot nos.3604 and 3605 at G.I.D.C., Vatwa, Ahmedabad, both
present and future, an exclusive charge by way of hypothecation of specific
receivables arising out of export of machinery and spares under the facility,
besides Personal Guarantee of Mr Pankaj R Patel, a director of the Company. It
is repayable seer 3 years from the date of respective disbursement
starting from August 5, 2013 along with interest @ 6 months US UBOR plus 400
bps p.a. The outstanding amount as at March 31, 2013 is Rs.52.083 millions
[as at March 31, 2012: Rs.48.899 millions]. [d] Term loan from Other
is secured by hypothecation of specific vehicles purchased by the Company
under the loan. It is repayable in 36 monthly equal instalments of Rs.188.1
Thousands each started from December 10, 2009 including interest @ 8.1% p.a.
The outstanding amount as at March 31, 2013 is Rs. Nil [as at March 31, 2012:
Rs.1.451 millions]. SHORT TERM BORROWINGS [*] Working Capital Loan
repayable on demand from a bank is secured by first charge on hypothecation
of inventories [including goods in transit], book-debts and movable plant and
machineries and second charge by way of an equitable mortgage of immovable
properties situated at plot nos.3604 and 3605 at G.I.D.C., Vatwa, Ahmedabad
and is bearing Interest @ 3.75% p.a. over base rate. |
|
|
|
|
Auditors : |
|
|
Name : |
Mukesh M. Shah and Company Chartered Accountants |
|
Address : |
1st Floor, H.K. House, Ashram Road, Ahmedabad – 380 009, Gujarat, India |
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Tel. No.: |
91-79-26580549/ 26585814 |
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Fax No.: |
91-79-26581236 |
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E-Mail : |
|
|
Website : |
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PAN No : |
AAIFM0810A |
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|
Enterprises significantly influenced by Directors and/ or their
relatives : |
|
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 millions |
|
5000 |
1.5% Redeemable Non-Cumulative Preference Shares |
Rs.100/- each |
Rs.0.500 million |
|
5000 |
2.0% Redeemable Non-Cumulative Preference Shares |
Rs.100/- each |
Rs.0.500 million |
|
5000 |
2.5% Redeemable Non-Cumulative Preference Shares |
Rs.100/- each |
Rs.0.500 million |
|
10000 |
Unclassified Shares |
Rs.100/- each |
Rs.1.000 million |
|
|
Total
|
|
Rs.5.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
22200 |
Equity Shares |
Rs.100/-
each |
Rs.2.220
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 |
2.220 |
2.220 |
2.220 |
|
(b) Reserves & Surplus |
131.480 |
124.661 |
115.558 |
|
(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) |
133.700 |
126.881 |
117.778 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.775 |
50.920 |
45.831 |
|
(b) Deferred tax liabilities (Net) |
6.899 |
3.981 |
6.233 |
|
(c) Other long term liabilities |
0.752 |
0.449 |
0.233 |
|
(d) Long-term provisions |
8.192 |
14.843 |
18.320 |
|
Total Non-current Liabilities (3) |
16.618 |
70.193 |
70.617 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
18.852 |
16.405 |
16.740 |
|
(b) Trade payables |
117.219 |
109.592 |
73.062 |
|
(c) Other current
liabilities |
95.734 |
40.434 |
46.951 |
|
(d) Short-term provisions |
18.531 |
19.347 |
7.999 |
|
Total Current Liabilities (4) |
250.336 |
185.778 |
144.752 |
|
|
|
|
|
|
TOTAL |
400.654 |
382.852 |
333.147 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
77.841 |
81.940 |
69.614 |
|
(ii) Intangible Assets |
6.375 |
6.064 |
1.008 |
|
(iii) Capital
work-in-progress |
0.000 |
0.814 |
0.648 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.001 |
0.001 |
0.001 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
20.073 |
11.465 |
13.030 |
|
(e) Other Non-current assets |
0.000 |
48.452 |
42.455 |
|
Total Non-Current Assets |
104.290 |
148.736 |
126.756 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
153.822 |
132.087 |
133.328 |
|
(c) Trade receivables |
132.632 |
92.602 |
62.337 |
|
(d) Cash and cash
equivalents |
0.359 |
0.793 |
4.702 |
|
(e) Short-term loans
and advances |
7.648 |
7.376 |
4.951 |
|
(f) Other current
assets |
1.903 |
1.258 |
1.073 |
|
Total Current Assets |
296.364 |
234.116 |
206.391 |
|
|
|
|
|
|
TOTAL |
400.654 |
382.852 |
333.147 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations (Net) |
618.164 |
697.202 |
628.720 |
|
|
|
Other Income |
3.697 |
2.640 |
1.405 |
|
|
|
TOTAL (A) |
621.861 |
699.842 |
630.125 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
266.258 |
324.057 |
267.816 |
|
|
|
Purchases of Stock-in-Trade |
0.000 |
0.844 |
34.261 |
|
|
|
Changes in Inventories of Finished Goods, Work-in-progress and
Stock-in-Trade |
(14.037) |
2.391 |
2.092 |
|
|
|
Employees Benefits Expenses |
143.321 |
136.281 |
132.785 |
|
|
|
Other Expenses |
178.176 |
188.095 |
157.835 |
|
|
|
TOTAL (B) |
573.718 |
651.668 |
594.789 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
48.143 |
48.174 |
35.336 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.873 |
10.294 |
1.905 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
40.270 |
37.880 |
33.431 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.959 |
8.414 |
7.528 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
30.311 |
29.466 |
25.903 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.506 |
7.462 |
11.787 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
19.805 |
22.004 |
14.116 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
57.161 |
51.558 |
45.847 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
11.100 |
11.100 |
4.995 |
|
|
|
CDT on Proposed Dividend |
1.886 |
1.801 |
0.810 |
|
|
|
Transfer to General Reserve |
3.000 |
3.500 |
2.600 |
|
|
BALANCE CARRIED
TO THE B/S |
60.980 |
57.161 |
51.558 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
0.000 |
0.000 |
41.185 |
|
|
|
Others |
9.027 |
5.316 |
0.000 |
|
|
TOTAL EARNINGS |
9.027 |
5.316 |
41.185 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3.281 |
4.550 |
5.978 |
|
|
TOTAL IMPORTS |
3.281 |
4.550 |
5.978 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
892.12 |
991.17 |
635.86 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.18 |
3.14
|
2.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.90 |
4.23
|
4.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.57 |
7.71
|
7.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.23
|
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.15 |
0.53
|
0.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18 |
1.26
|
1.43 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
2.220 |
2.220 |
2.220 |
|
Reserves & Surplus |
115.558 |
124.661 |
131.480 |
|
Net worth |
117.778 |
126.881 |
133.700 |
|
|
|
|
|
|
Long-term borrowings |
45.831 |
50.920 |
0.775 |
|
Short term borrowings |
16.740 |
16.405 |
18.852 |
|
Total borrowings |
62.571 |
67.325 |
19.627 |
|
Debt/Equity ratio |
0.531 |
0.531 |
0.147 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations (Net) |
628.720 |
697.202 |
618.164 |
|
|
|
10.892 |
(11.336) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations (Net) |
628.720 |
697.202 |
618.164 |
|
Profit |
14.116 |
22.004 |
19.805 |
|
|
2.25% |
3.16% |
3.20% |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10429550 |
01/07/2013 * |
13,000,000.00 |
BANK OF BARODA |
ASHRAM ROAD BRANCH, ASHRAM ROAD, AHMEDABAD,
GUJARAT - 380009, INDIA |
B79904348 |
|
2 |
10315509 |
21/10/2011 |
3,600,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA,
GUJARAT - 390015, INDIA |
B24470106 |
|
3 |
10225234 |
07/01/2011 * |
100,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE
CENTRE, CUFFRE PARATE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B05613781 |
|
4 |
90108027 |
01/07/2013 * |
57,500,000.00 |
BANK OF BARODA |
ASHRAM ROAD BRANCH, ASHRAM ROAD, AHMEDABAD,
GUJARAT - 380009, INDIA |
B79903936 |
|
5 |
90109120 |
22/05/2013 * |
57,500,000.00 |
BANK OF BARODA |
ASHRAM ROAD BRANCH, ASHRAM ROAD, AHMEDABAD,
GUJARAT - 380009, INDIA |
B76497858 |
|
6 |
90108518 |
22/05/2013 * |
57,500,000.00 |
BANK OF BARODA |
ASHRAM ROAD BRANCH, ASHRAM ROAD, AHMEDABAD,
GUJARAT - 380009, INDIA |
B76498385 |
|
7 |
90108247 |
22/05/2013 * |
57,500,000.00 |
BANK OF BARODA |
ASHRAM ROAD BRANCH, ASHRAM ROAD, AHMEDABAD,
GUJARAT - 380009, INDIA |
B76499946 |
* Date of charge modification
NOTE:
The registered office of the company has been shifted from “Zydus Tower”,
Satellite Cross Roads, Ahmedabad – 380 015, Gujarat to the present address
w.e.f. 01.09.2008.
YEAR I N RETROSPECT:
During the year, sales of
the Company was Rs.601.022 millions as against of Rs.681.568 millions. Profit before
providing for taxation was Rs.30.311 millions as against of Rs.29.466 millions.
CONTINGENT LIABILITIES [TO THE EXTENT NOT PROVIDED FOR]:
|
Particulars |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
a. Claims against the Company
not acknowledged as debts |
6.132 |
5.475 |
|
b. In respect of
guarantees given by Banks and/or counter guarantees given by the Company |
7.641 |
6.518 |
|
c. Other money for which
the company is contingent liable: |
|
|
|
i. In respect of the demands
raised by the Central Excise, State Excise and Service Tax Authority against
which the Company has preferred appeals. The Company has been legally advised
that the demands are not tenable. |
1.544 |
1.688 |
|
ii. In respect of the demands
raised by the Income Tax Authority against which the Company has preferred
appeals. The Company has been legally advised that the demands are not
tenable. |
1.400 |
1.400 |
FIXED ASSETS:
Tangible Assets
·
Leasehold
Land
·
Buildings
·
Plant and
Equipment
·
Furniture,
Fixtures
·
Office
Equipments
·
Vehicles
Intangible Assets
·
Computer
Software
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 c redit 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.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
50 |
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.