MIRA INFORM REPORT
|
Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
PRIVI ORGANICS LIMITED (w.e.f.01.07.1998) |
|
|
|
|
Formerly Known
As : |
PRIVI ORGANICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
“Privi house”, A-71,
TTC, Thane Belapur Road, Near Kopar Khairne Railway Station, Navi Mumbai –
400709, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.04.1982 |
|
|
|
|
Com. Reg. No.: |
11-026867 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 148.450 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24120MH1982PLC026867 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP17382B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP4717A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Aroma Chemicals. |
|
|
|
|
No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Rating reflects sound financial risk profile marked by improvement in performance
of the company and decent liquidity position. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company can be considered for business dealing at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
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 and moderate
credit risk |
|
Date |
29.09.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities : “A3” |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
29.09.2014 |
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. B. S. Shetty |
|
Designation : |
Finance Head |
|
Contact No.: |
91-22-66023500 |
|
Date : |
28.10.2014 |
LOCATIONS
|
Registered Office and Knowledge Centre : |
“Privi house”, A-71,
TTC, Thane Belapur Road, Near Kopar Khairne Railway Station, Navi Mumbai – 400709,
Maharashtra, India |
|
Tel. No.: |
91-22-27783040-48/ 66023500/ 66023600 |
|
Fax No.: |
91-22-27783049 |
|
E-Mail : |
mahadeshewarsachin@privi.co.in sales@privi.co.in |
|
Website : |
|
|
|
|
|
Factory : |
A7, A3, C4, C5, C6, C6/1, C33/1, MIDC, Mahad, Raigad – 402309,
Maharashtra, India |
|
Tel. No.: |
91-2145-232122 |
|
Fax No.: |
91-2145-233494 |
|
Location : |
Owned |
DIRECTORS
As on: 03.09.2013
|
Name : |
Mr. Mahesh Purshottam Babani |
|
Designation : |
Managing director |
|
Address : |
7/8, Satguru
House, Sherley Rajan Road, Opposite Carter Road, Bandra (West) Mumbai –
400050, Maharashtra, India |
|
Date of Birth/Age : |
01.04.1957 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
00051162 |
|
PAN No.: |
AFLPB1549R |
|
|
|
|
Name : |
Mr. Satan Santumal Bharwani |
|
Designation : |
Director |
|
Address : |
34, Bandra
Amarjeevan Society, St. Martin Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
01.09.1936 |
|
Qualification : |
M.A., CAIIB |
|
Date of Appointment : |
01.04.2005 |
|
DIN No.: |
00183286 |
|
|
|
|
Name : |
Mr. Arjan Jehanand Advani |
|
Designation : |
Director |
|
Address : |
38, Sunita
Building, 3rd Floor, Opposite Colaba Post Office, Colaba, Mumbai –
400005, Maharashtra, India |
|
Date of Birth/Age : |
10.10.1936 |
|
Qualification : |
B. Chem Engg,
DBM |
|
Date of Appointment : |
01.04.2005 |
|
DIN No.: |
00076951 |
|
|
|
|
Name : |
Mr. Anoop Purshotam Babani |
|
Designation : |
Director |
|
Address : |
11, Satguru
House, Sherley Rajan Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
27.05.1954 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
18.03.1999 |
|
DIN No.: |
00185218 |
|
PAN No.: |
AFLPB1551R |
|
|
|
|
Name : |
Mr. Doppalapudi B Rao |
|
Designation : |
Whole-time director |
|
Address : |
903, Daffodils,
Satguru Gardens, Thane – 400602, Maharashtra, India |
|
Date of Birth/Age : |
10.05.1948 |
|
Qualification : |
M.E. |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
00356218 |
|
PAN No.: |
AADPR7777A |
|
|
|
|
Name : |
Mr. Rajesh Harichandra Budhrani |
|
Designation : |
Director |
|
Address : |
6 Ardmore Park,
19-01, The Ardmore, Singapore-259953 |
|
Date of Birth/Age : |
01.08.1970 |
|
Qualification : |
B. Sc, Major in
Accounts and Finance |
|
Date of Appointment : |
11.08.2005 |
|
DIN No.: |
01284426 |
|
|
|
|
Name : |
Mr. Rahul Raisurana |
|
Designation : |
Director |
|
Address : |
19 Ballygunge
Circular Road, Kolkata – 700019, West Bengal, India |
|
Date of Birth/Age : |
15.05.1969 |
|
Qualification : |
B.Com (Hons.),
MBA, Masters in International Management |
|
Date of Appointment : |
28.02.2011 |
|
DIN No.: |
02570812 |
KEY EXECUTIVES
|
Name : |
Mr. Ramesh Vishanlal Kathuria |
|
Designation : |
Secretary |
|
Address : |
Shilp-II, Flat
No. 504 , The Residency CHS, L.B.S. Marg, Thane – 400603, Maharashtra, India |
|
Date of Birth/Age : |
15.05.1969 |
|
Date of Appointment : |
01.07.2006 |
|
PAN No.: |
AFRPK9121J |
|
|
|
|
Name : |
Mr. B. S. Shetty |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 03.09.2013
NOTE: MAJOR SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 03.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
36.84 |
|
Bodies corporate |
|
11.16 |
|
Directors or relatives of directors |
|
43.76 |
|
Other top fifty shareholders |
|
8.24 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Aroma Chemicals. |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash and Advance Payment |
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Purchasing : |
Cash and Advance Payment |
GENERAL INFORMATION
|
No. of Employees : |
800 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR Associates Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N.M. Joshi
Marg, Mahalakshmi, Mumbai – 400011, Maharashtra, India |
|
PAN No.: |
AAIFB7355D |
|
|
|
|
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives: |
|
|
|
|
|
Subsidiary company: |
|
CAPITAL STRUCTURE
As on: 03.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs. 10/- each |
Rs. 400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14845001 |
Equity Shares |
Rs. 10/- each |
Rs. 148.450
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 |
148.450 |
148.450 |
148.450 |
|
(b) Reserves & Surplus |
1566.386 |
1448.676 |
1374.690 |
|
(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) |
1714.836 |
1597.126 |
1523.140 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
678.792 |
637.532 |
474.413 |
|
(b) Deferred tax
liabilities (Net) |
86.706 |
68.107 |
63.906 |
|
(c)
Other long term liabilities |
0.025 |
0.025 |
0.025 |
|
(d)
long-term provisions |
27.842 |
24.761 |
21.429 |
|
Total
Non-current Liabilities (3) |
793.365 |
730.425 |
559.773 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1323.458 |
960.202 |
672.107 |
|
(b)
Trade payables |
1128.846 |
929.147 |
1098.095 |
|
(c)
Other current liabilities |
695.599 |
520.340 |
398.077 |
|
(d)
Short-term provisions |
70.591 |
48.604 |
31.009 |
|
Total
Current Liabilities (4) |
3218.494 |
2458.293 |
2199.288 |
|
|
|
|
|
|
TOTAL |
5726.695 |
4785.844 |
4282.201 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1837.225 |
1352.173 |
1503.517 |
|
(ii)
Intangible Assets |
40.887 |
16.694 |
5.510 |
|
(iii)
Capital work-in-progress |
305.093 |
358.296 |
30.529 |
|
(iv) Intangible assets under
development |
22.014 |
40.639 |
22.314 |
|
(b)
Non-current Investments |
66.414 |
66.356 |
66.356 |
|
(c)
Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
243.794 |
203.285 |
142.660 |
|
(e)
Other Non-current assets |
66.027 |
96.346 |
18.272 |
|
Total
Non-Current Assets |
2581.454 |
2133.789 |
1789.158 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
1.501 |
1.501 |
1.501 |
|
(b)
Inventories |
1356.152 |
1071.950 |
1059.570 |
|
(c)
Trade receivables |
1437.913 |
1261.796 |
1096.657 |
|
(d)
Cash and cash equivalents |
211.970 |
159.625 |
249.199 |
|
(e)
Short-term loans and advances |
137.705 |
157.183 |
86.116 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
3145.241 |
2652.055 |
2493.043 |
|
|
|
|
|
|
TOTAL |
5726.695 |
4785.844 |
4282.201 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5142.140 |
4294.580 |
3837.035 |
|
|
|
Other Income |
38.697 |
22.868 |
53.115 |
|
|
|
TOTAL (A) |
5180.837 |
4317.448 |
3890.150 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
3476.346 |
3057.401 |
2844.887 |
|
|
|
Purchases of Stock-in-Trade |
0.000 |
9.143 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(134.773) |
(163.068) |
(209.426) |
|
|
|
Employees benefits expense |
207.676 |
158.490 |
132.172 |
|
|
|
Other expenses |
1025.818 |
757.803 |
651.388 |
|
|
|
TOTAL (B) |
4575.067 |
3819.769 |
3419.021 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
605.770 |
497.679 |
471.129 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
218.637 |
182.582 |
146.181 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
387.133 |
315.097 |
324.948 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
205.338 |
184.591 |
130.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
181.795 |
130.506 |
194.448 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
64.085 |
56.520 |
58.381 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
117.710 |
73.986 |
136.067 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
700.273 |
626.287 |
490.220 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
817.983 |
700.273 |
626.287 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
NA |
2876.724 |
2683.049 |
|
|
TOTAL EARNINGS |
NA |
2876.724 |
2683.049 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
2397.729 |
|
|
|
Capital Goods |
NA |
NA |
8.734 |
|
|
TOTAL IMPORTS |
NA |
NA |
2406.463 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.93 |
4.98 |
9.41 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
2.27 |
1.71 |
3.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.54 |
3.04 |
5.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.41 |
3.02 |
4.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.08 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.17 |
1.00 |
0.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98 |
1.08 |
1.13 |
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 |
148.450 |
148.450 |
148.450 |
|
Reserves & Surplus |
1374.690 |
1448.676 |
1566.386 |
|
Net worth |
1523.140 |
1597.126 |
1714.836 |
|
|
|
|
|
|
long-term borrowings |
474.413 |
637.532 |
678.792 |
|
Short term borrowings |
672.107 |
960.202 |
1323.458 |
|
Total borrowings |
1146.520 |
1597.734 |
2002.250 |
|
Debt/Equity ratio |
0.753 |
1.000 |
1.168 |
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 |
3837.035 |
4294.580 |
5142.140 |
|
|
|
11.924 |
19.736 |
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 |
3837.035 |
4294.580 |
5142.140 |
|
Profit |
136.067 |
73.986 |
117.710 |
|
|
3.55% |
1.72% |
2.29% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG TERM DEBT:
|
Particulars |
31.03.2014 [Rs. in millions] |
31.03.2013 [Rs. in millions] |
31.03.2012 [Rs. in millions] |
|
|
|
|
|
|
Current maturities of long-term debt |
340.222 |
312.895 |
268.284 |
|
|
|
|
|
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2014 |
As on 31.03.2013 |
|
LONG TERM
BORROWINGS |
|
|
|
Borrowing from government semi-government bodies |
3.120 |
3.744 |
|
Deferred payment liabilities |
51.506 |
51.948 |
|
Loans and advances from directors |
37.500 |
0.000 |
|
|
|
|
|
Total |
92.126 |
55.692 |
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Lodging No. : |
ITXAL/710/2014 |
Failing Date:- |
24/03/2014 |
Reg. No.: |
ITXA/836/2014 |
Reg. Date: |
29/04/2014 |
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX |
Respondent:- |
PRIVI ORGANICS LIMITED |
||||
|
Petn.Adv:- |
A R MALHOTRA (I3164) |
|
|
||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
DIVISION |
|
|
||||
|
Status:- |
Pre - Admitted |
Category:- |
TAX APPEALS |
||||
|
Last Date:- |
19/11/2014 |
Stage:- |
|
||||
|
Last Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
||||||
|
|
|
||||||
|
Act. : |
Income Tax Act,1961 |
Under Section: - 260A |
|||||
FINANCIAL AND
OPERATIONAL REVIEW:
The global recessionary trend witnessed in the previous year continued during the current year as well. The growth of the world economy slipped from 3.9% in 2011 to just 3.1% in 2012 (corresponding to financial year ending 31/03/2012 and 31/03/2013 respectively). Currency volatility resulted in forex losses and led to profit erosion. The Company, under the above scenario has still been able to achieve a Profit before Tax of Rs. 181.795 millions, net of Forex Losses. (Previous Year Rs. 130.506 millions).
The Company achieved a net sales turnover of Rs. 5133.769 millions (Previous year Rs. 4236.304 millions) registering a growth of 21%. While the export sales turnover showed a growth by 22%, the local sales turnover grew by 17.74%.
The Company’s net worth as on March 31, 2014 was Rs. 1714.836 millions, with paid-up capital of Rs.148.451 millions and accumulated reserves and surplus of Rs. 1566.386 millions.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED
|
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10463697 |
11/10/2013 |
83,000,000.00 |
BANK OF BARODA |
PRINCESS STREET BRANCH, 1ST FLOOR, MULJI JETHA B |
B90910902 |
|
2 |
10459580 |
20/09/2013 |
150,000,000.00 |
THE RATNAKAR BANK LIMITED |
SHAHUPURI,KOLHAPUR, KOLHAPUR, MAHARASHTRA - 416001, INDIA |
B89286975 |
|
3 |
10360606 |
29/05/2012 |
448,000,000.00 |
DBS BANK LIMITED |
UPPER GROUND FLOOR, 25, BARAKHAMBA ROAD, BIRLA TO WER, NEW DELHI, DELHI - 110001, INDIA |
B41620253 |
|
4 |
10288943 |
02/05/2011 |
167,660,400.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W , MUMBAI, MAHARASHTRA - 400013, INDIA |
B13762489 |
|
5 |
10257414 |
12/11/2010 |
368,000,000.00 |
STANDARD CHARTERED BANK |
23, NARAILAN MANZIL, BARKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
A98873672 |
|
6 |
10095029 |
13/12/2013 * |
985,000,000.00 |
BANK OF BARODA |
PRINCESS STREET BRANCH, 185/187, MULJI JETHA BLDG. 1ST FLOOR, PRINCESS STREET, MUMBAI, MAHARASHTR A - 400002, INDIA |
B92482249 |
|
7 |
10079171 |
05/09/2007 |
19,000,000.00 |
PUNJAB NATIONAL BANK |
ILACO HOUSE, SIR P. M. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A26390146 |
|
8 |
10078044 |
05/09/2007 |
34,000,000.00 |
PUNJAB NATIONAL BANK |
ILLACO HOUSE, SIR P.M. ROAD, MUMBAI, MAHARASHTRA - 400001, INDIA |
A26388710 |
|
9 |
10044586 |
28/02/2007 |
230,000,000.00 |
PUNJAB NATIONAL BANK LIMITED |
ILACO HOUSE, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A12748687 |
|
10 |
10036131 |
03/01/2007 |
49,000,000.00 |
ING VYSYA BANK LIMITED |
PATEL CHAMBERS, GROUND FLOOR, SANDHURST BRIDGE, |
A10534071 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Leasehold improvements
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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. 61.31 |
|
|
1 |
Rs. 99.00 |
|
Euro |
1 |
Rs. 78.14 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.