MIRA INFORM REPORT
|
Report Date : |
31.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
FLAMINGO PHARMACEUTICALS LIMITED |
|
|
|
|
Formerly Known
As : |
FLAMINGO IMPEX PRIVATE LIMITED |
|
|
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|
Registered
Office : |
7/1, Corporate Park, Sion –Trombay Road, Chembur, Mumbai- 400071,
Maharashtra |
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|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2013 |
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|
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|
Date of
Incorporation : |
12.06.1985 |
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|
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Com. Reg. No.: |
11-036572 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 68.040 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1985PLC036572 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF03725B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF4211B |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of pharmaceutical products. |
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|
|
|
No. of Employees
: |
450 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4900000 |
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|
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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. Profitability of the company seems to be decent. General financial position
of the company seems to be sound and healthy. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB- (Long term bank facilities) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
11.12.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A3 (Short term bank facilities) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
11.12.2013 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Sanjay |
|
Designation : |
Deputy Manager |
|
Contact No.: |
91-22-30009300 |
|
Date : |
29.01.2014 |
LOCATIONS
|
Registered Office : |
7/1, Corporate Park, Sion –Trombay Road, Chembur, Mumbai- 400071,
Maharashtra, India |
|
Tel. No.: |
91-22-30009300 |
|
Fax No.: |
91-22-25233085 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
6767 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
R-662, T.T.C. Industrial Area, Rabale, Navi Mumbai - 400 071,
Maharashtra, India |
|
Tel. No.: |
91-22-27695593 / 27696998 / 27694571 / 227607130 |
|
Fax No.: |
91-22-27693844 |
|
E-Mail : |
|
|
Area: |
4439 Sq. Mtrs |
|
Location: |
Owned |
|
|
|
|
Factory 2 : |
E-28, Taloja Industrial Area, Taloja, Raigad – 410 208, Maharashtra,
India |
|
Tel. No.: |
91-22-27411372 / 65162742 |
|
Fax No.: |
91-22-27411386 |
|
E-Mail : |
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|
Area: |
6480 Sq. Mtrs |
|
Location: |
Owned |
|
|
|
|
Factory 3: |
Plot No. NPH – 1, Pharms E-2, Krushnur, District Nanded – 431709,
Maharashtra, India |
DIRECTORS
As on: 26.09.2013
|
Name : |
Mr. Ashwin Jethalal Thacker |
|
Designation : |
Managing Director |
|
Address : |
702, Sabari Aangan, 11th Road, Chembur, Mumbai – 400071, Maharashtra,
India |
|
Date of Birth : |
13.10.1989 |
|
Qualification : |
B. Sc. (Hons), DBM, DMM (Bom) |
|
Date of Appointment : |
23.06.1986 |
|
PAN No.: |
AACPT2572L |
|
DIN No : |
00048595 |
|
|
|
|
Name : |
Mr. Deepak Bhupatrai Goradia |
|
Designation : |
Director |
|
Address : |
222, Sabari Aangan, 7th Floor, 11th Road, Next
to Saraswati Vidyalay, Chembur, Mumbai-400071, Maharashtra, India |
|
Date of Birth : |
09.04.1956 |
|
Date of Appointment : |
03.09.1997 |
|
DIN No : |
00058544 |
|
|
|
|
Name : |
Mr. Suhas Sadanand Ganpule |
|
Designation : |
Director |
|
Address : |
236, Pratiksha Building, 3rd Floor, Flat No.10, Borivali
(West), Mumbai-400092, Maharashtra, India |
|
Date of Birth : |
25.08.1962 |
|
Date of Appointment : |
17.11.2009 |
|
DIN No : |
00179817 |
KEY EXECUTIVES
|
Name : |
Mr. Murlidharan K |
|
Designation : |
Secretary |
|
Address : |
Flat No.103, Building No. 11, Neelam Nagar, Phase II, Mulund (East),
Mumbai-400018, Maharashtra, India |
|
Date of Appointment : |
01.07.2010 |
|
PAN No : |
AGEPK5441P |
|
|
|
|
Name : |
Mr. Sanjay |
|
Designation : |
Deputy Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 26.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ashwin Thacker |
|
4163400 |
|
Raju Thacker |
|
1895400 |
|
Pranay Thacker |
|
722400 |
|
Parth Thacker |
|
60 |
|
Raechella Murzello |
|
30 |
|
Sanjay Gujar |
|
30 |
|
Minimed Laboratories Private Limited, India |
|
22650 |
|
Rotaline Molekule Private Limited, India |
|
30 |
|
|
|
|
|
Total |
|
6804000 |
Equity Share Break up (Percentage of Total Equity)
As on: 26.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
0.33 |
|
Directors or relatives of directors |
|
99.66 |
|
Other top fifty shareholders |
|
0.01 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of pharmaceutical products. |
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Products : |
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Exports : |
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Products : |
Pharmaceutical Products such as Tablets, Capsules, Dry
Syrups and Injectibles |
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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 Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Arbindo Pharma |
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Customers : |
End Users Gal Pharm International |
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No. of Employees : |
450 (Approximately) |
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Bankers : |
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Facilities : |
Total: Rs. 75.000 Millions (From Bank of
India) Total: Rs. 475.000 Millions (From State
Bank of India) Total: Rs.
100.000 Millions (From ICICI Bank) (Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pravin Sarvaiya and Company Chartered Accountants |
|
Address : |
4 Kermani,
Building, 1st Floor, Sir P M Road, Opposite Citi Bank, Fort,
Mumbai-400001, India |
|
PAN No.: |
AAOPS8153J |
|
|
|
|
Associates : |
PAN No.: AABCM2711L CIN No.: U33110MH1993PTC070699
PAN No.: AADCR6745B CIN No.: U51397MH2006PTC163870
PAN No.: AABCF5925D CIN No.: U24239MH2008PLC180639
PAN No.: AABCF5926A CIN No.: U70109MH2010PTC205846 |
CAPITAL STRUCTURE
As on: 26.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6804000 |
Equity Shares |
Rs.10/- each |
Rs. 68.040
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 |
68.040 |
68.040 |
68.040 |
|
(b) Reserves & Surplus |
1164.833 |
1019.545 |
921.494 |
|
(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) |
1232.873 |
1087.585 |
989.534 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
1166.052 |
984.033 |
215.369 |
|
(b) Deferred tax liabilities (Net) |
61.756 |
73.025 |
73.590 |
|
(c) Other long term
liabilities |
8.736 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.379 |
1.797 |
2.032 |
|
Total Non-current
Liabilities (3) |
1237.923 |
1058.855 |
290.991 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
629.857 |
565.423 |
466.689 |
|
(b) Trade payables |
458.039 |
271.019 |
381.591 |
|
(c) Other current
liabilities |
314.329 |
201.093 |
121.245 |
|
(d) Short-term
provisions |
15.214 |
22.833 |
27.511 |
|
Total Current
Liabilities (4) |
1417.439 |
1060.368 |
997.036 |
|
|
|
|
|
|
TOTAL |
3888.235 |
3206.808 |
2277.561 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
812.760 |
842.570 |
861.655 |
|
(ii) Intangible Assets |
11.987 |
16.315 |
22.951 |
|
(iii) Capital
work-in-progress |
1926.581 |
1204.075 |
136.631 |
|
(iv) Intangible assets under development |
3.248 |
1.607 |
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 |
31.958 |
85.126 |
30.681 |
|
(e) Other
Non-current assets |
14.216 |
0.000 |
29.509 |
|
Total Non-Current
Assets |
2800.750 |
2149.693 |
1081.427 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
282.448 |
245.673 |
306.860 |
|
(c) Trade receivables |
332.980 |
345.292 |
485.550 |
|
(d) Cash and cash equivalents |
71.938 |
74.858 |
88.481 |
|
(e) Short-term loans
and advances |
399.760 |
390.552 |
314.825 |
|
(f) Other current
assets |
0.359 |
0.740 |
0.418 |
|
Total Current Assets |
1087.485 |
1057.115 |
1196.134 |
|
|
|
|
|
|
TOTAL |
3888.235 |
3206.808 |
2277.561 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2332.745 |
2183.234 |
2073.761 |
|
|
|
Other Income |
15.897 |
27.768 |
21.057 |
|
|
|
TOTAL (A) |
2348.642 |
2211.002 |
2094.818 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1409.208 |
1253.788 |
|
|
|
|
Purchases of stock-in-trade |
0.936 |
19.084 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(6.385) |
14.894 |
|
|
|
|
Employee benefit expense |
133.621 |
155.714 |
|
|
|
|
Other expenses |
543.644 |
435.172 |
|
|
|
|
Exceptional items before tax |
0.000 |
29.509 |
|
|
|
|
TOTAL (B) |
2081.024 |
1908.161 |
1870.414 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
267.618 |
302.841 |
224.404 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
46.495 |
91.897 |
31.775 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
221.123 |
210.944 |
192.629 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
56.766 |
50.489 |
51.497 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
164.357 |
160.455 |
141.132 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7.740 |
47.911 |
31.996 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
156.617 |
112.544 |
109.136 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
395.441 |
323.968 |
255.940 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
100.000 |
30.000 |
30.000 |
|
|
|
Dividend |
6.804 |
9.526 |
9.525 |
|
|
|
Tax on Dividend |
1.104 |
1.545 |
1.582 |
|
|
BALANCE CARRIED
TO THE B/S |
444.150 |
395.441 |
323.968 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
2233.005 |
2072.146 |
1958.844 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
311.467 |
290.627 |
|
|
|
Stores & Spares |
|
0.857 |
2.927 |
|
|
|
Capital Goods |
|
179.746 |
0.000 |
|
|
TOTAL IMPORTS |
694.266 |
492.070 |
293.554 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
23.02 |
16.54 |
16.04 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
2697.600 |
The above information has been parted by Mr. Sanjay
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.67 |
5.10 |
5.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.05 |
7.35 |
6.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.39 |
8.01 |
6.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.15 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.46 |
1.42 |
0.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.77 |
0.99 |
1.20 |
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 |
68.040 |
68.040 |
68.040 |
|
Reserves & Surplus |
921.494 |
1019.545 |
1164.833 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
989.534 |
1087.585 |
1232.873 |
|
|
|
|
|
|
long-term borrowings |
215.369 |
984.033 |
1166.052 |
|
Short term borrowings |
466.689 |
565.423 |
629.857 |
|
Total
borrowings |
682.058 |
1549.456 |
1795.909 |
|
Debt/Equity
ratio |
0.689 |
1.425 |
1.457 |
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 |
2073.761 |
2183.234 |
2332.745 |
|
|
|
5.279 |
6.848 |
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
|
2073.761 |
2183.234 |
2332.745 |
|
Profit |
109.136 |
112.544 |
156.617 |
|
|
5.26% |
5.15% |
6.71% |
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 |
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 |
-- |
|
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 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Intercorporate deposits |
51.350 |
51.350 |
|
Loans and advances from others |
8.200 |
8.200 |
|
Loans and advances from directors |
40.450 |
40.450 |
|
|
|
|
|
Total |
100.00 |
100.00 |
OPERATIONS:
During the year, the Revenue from Operations of the Company rose by about 6%, mainly contributed by export sales. While the exports to semi-regulated markets (Rs. 1730.000 millions) increased by 35% over that of previous year (Rs. 1300.000 millions), exports to regulated markets could account for only Rs. 540.000 millions (previous year Rs. 800.000 millions) due to unexpected slow down in production caused by industrial disputes, which have been settled now. The company has been able to maintain the margins, despite increased cost of inputs and volatile exchange rates.
The company suspended its domestic business w.e.f. from May 2012, as the company liquidated stocks held in inventory. The directors are reviewing the market situation from time to time and would take appropriate decision on future course of action. The company has adequate export orders in hand for execution and the Directors expect that the Rabale and Taloja plants will continue to perform well in the next financial year, barring any unforeseen circumstances.
INDEX OF CHANGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10406540 |
14/02/2013 |
70,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B68999895 |
|
2 |
10392673 |
06/12/2012 |
100,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B64406101 |
|
3 |
10392667 |
06/12/2012 |
480,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B64399512 |
|
4 |
10388637 |
31/10/2012 |
109,400,000.00 |
STATE BANK OF MAURITIUS LTD |
101, RAHEJA CENTRE, FREE PRESS JOURNAL MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B62829429 |
|
5 |
10373191 |
03/08/2012 |
817,921.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B56658693 |
|
6 |
10303201 |
29/06/2011 |
125,000,000.00 |
STATE BANK OF MAURITIUS LTD |
101, RAHEJA CENTRE, 1ST FLOOR, FREE PRESS JOURNAL ROAD, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B19182393 |
|
7 |
10261319 |
13/07/2013 * |
155,000,000.00 |
BANK OF INDIA |
ANDHERI CORPORATE BANKING BR, M.D.I.BUILDING, 28, |
B81296139 |
|
8 |
10258658 |
19/02/2013 * |
550,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B68527654 |
|
9 |
10207057 |
26/02/2010 |
155,000,000.00 |
BANK OF INDIA |
ANDHERI CORPORATE BANKING BR. M. D. I. BUILDING, 28, S. V. ROAD, ANDHERI (W), MUMBAI, MAHARASHTRA - 400058, INDIA |
A81362352 |
|
10 |
90213197 |
28/05/1998 |
50,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH; WORLD TRADE CENTRE, CUFFE PARADE |
- |
|
11 |
90212921 |
22/07/2011 * |
621,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH 2ND FLOOR, THE ARCADE, WORLD TRADE CENTRE, CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
B19074715 |
|
12 |
90235752 |
25/11/2004 * |
144,000,000.00 |
STATE BANK OF INDIA |
WORLD TRADE CENTER, CUFFE PARADE, MUMBAI, MAHARASHTRA, INDIA |
- |
|
13 |
90212593 |
12/04/1996 * |
70,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH; WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
- |
|
14 |
90212229 |
06/12/1991 |
9,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH; WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
- |
|
15 |
90212072 |
18/05/1990 |
5,700,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH; WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
- |
|
16 |
90211889 |
22/02/1989 |
3,200,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH; WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
- |
|
17 |
90211715 |
14/12/1987 |
700,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH; WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
- |
|
18 |
90211647 |
18/06/1987 |
980,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH; WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
- |
* Date of charge modification
FIXED ASSETS
v Intangible
·
Land
·
Buildings
·
Factory building
·
Plant and equipment
·
Factory equipment’s
·
Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
v Tangible 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 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.61.46 |
|
|
1 |
Rs.98.21 |
|
Euro |
1 |
Rs.77.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
6 |
|
--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 |
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 |
|
49 |
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.