MIRA
INFORM REPORT
|
Report Date : |
02.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
GMP TECHNICAL SOLUTIONS PRIVATE LIMITED (w.e.f. 21.02.2008) |
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Formerly Known
As : |
G
M PARTITIONS PRIVATE LIMITED (w.e.f. 26.11.2007) QA TECHNICAL SERVICES ( |
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Registered
Office : |
309-316, 3rd Floor, Swastik Disa Business Park, Behind
Wadhani Industrial Estate, L.B.S. Marg, Ghatkopar (West) Mumbai – 400 086,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
22.09.2003 |
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Com. Reg. No.: |
11-142312 |
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Capital
Investment / Paid-up Capital : |
Rs.0.141 million |
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CIN No.: [Company Identification
No.] |
U74999MH2003PTC142312 |
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PAN No.: [Permanent Account No.] |
AAACQ1042P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing of clean room partitions
and panels, and pharmaceutical equipment, it also provides turnkey services
in setting up clean rooms to the pharmaceutical, biotech, healthcare,
chemical, active pharmaceutical ingredients, and other allied industries. |
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No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 good. Reserves of the company are decent. Trade relations
are reported as fair. Business is active. Payments 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to influence
each other in ways that could be very complex and far-reaching. The prospects
of the India’s economy have been seriously compromised due to political
corruption. High inflation, poor standard of living are to a great extent a
result of rampant corruption in the country. China on the other hand, seems to
be facing diametrically opposite challenge. American hedge fund manager Jim
Chanos has been keenly following the political and economic development in the
dragon economy and has figured out something that is quite worrying. He is of
the view that the Chinese economy could be heading toward trouble on account of
new Chinese President Xi Jingping’s very aggressive anti-corruption drive.
Chanos believes tat many things such as apartment sales, luxury products, etc.
were largely bought with dirty money. And it is now beginning to impact
consumption. This may indeed be bad news for an economy that is struggling to
transition from an investment-driven export-oriented economy to a domestic
consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: BBB- |
|
Rating Explanation |
Moderate degree of safety it carry moderate credit risk. |
|
Date |
June 21, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A3 |
|
Rating Explanation |
Moderate degree of safety it carry higher credit risk. |
|
Date |
June 21, 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. Vikas |
|
Designation : |
Finance Head |
|
Contact No.: |
91-9819474824 |
LOCATIONS
|
Registered Office : |
309-316, 3rd Floor, Swastik Disa Business Park, Behind
Wadhani Industrial Estate, L.B.S. Marg, Ghatkopar (West) Mumbai – 400 086,
Maharashtra, India |
|
Tel. No.: |
91- 22-66083700 |
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Mobile No.: |
91-9819474824 (Mr. Vikas) |
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Fax No.: |
91- 22-66083737 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
Gunia Road Mandhala, Via Barotiwala, Kasauli, Solan – 174 103,
Himachal Pradesh, India |
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Tel No. : |
91-1792-253101/ 05/ 253072/ 85 |
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Fax No. : |
91-1792-253072 |
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Branch Office : |
Located at: ·
Goa ·
Hyderabad ·
Bangalore ·
New Delhi ·
Ghaziabad ·
Chennai ·
Sikkim ·
Pune ·
Indore ·
Ahmedabad |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ajay Bhalchandra Mehta |
|
Designation : |
Director |
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Address : |
101, Kagdipura, Behind Chhatripura Police Station, Indore – 452 002, Madhya
Pradesh, India |
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Date of Birth/Age : |
10.01.1971 |
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Qualification : |
Diploma
in Civil Engineers |
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Experience : |
16 Years |
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Date of Appointment : |
03.03.2008 |
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DIN No.: |
00436908 |
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PAN No.: |
AIPPM3891G |
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Name : |
Mr. Prasant Vishnu Kavale |
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Designation : |
Director |
|
Address : |
C-701, Satellite Garden, Film City Road, Goregaon (East), Mumbai – 400
063, Maharashtra, India |
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Date of Birth/Age : |
27.07.1972 |
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Qualification : |
B.E.
(Electrical.), M.B.A. (Finance) |
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Experience : |
19 Years |
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Date of Appointment : |
04.05.2009 |
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DIN No.: |
02626965 |
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PAN No.: |
AOUPK7373N |
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Name : |
Santhanam Doraiswamy |
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Designation : |
Additional Director |
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Address : |
502, Radon, Zircon, Viman Nagar, Pune – 411 014, Maharashtra, India |
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Date of Birth/Age : |
21.05.1962 |
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Date of Appointment : |
20.10.2010 |
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DIN No.: |
00226569 |
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Name : |
Mr. Krishnamurthy Muthuswamy |
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Designation : |
Additional Director |
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Address : |
Flat No.503, Atria, Zircon, Viman Nagar, Pune – 411 014, Maharashtra,
India |
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Date of Birth/Age : |
10.06.1960 |
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Date of Appointment : |
20.10.2010 |
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DIN No.: |
00037763 |
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Name : |
Mr. Siddharth Vasudevan Moorthy |
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Designation : |
Additional Director |
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Address : |
Vatsalya, Bunglow No.1, 315 Woods, Koregaon Park, Pune – 411 001,
Maharashtra, India |
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Date of Birth/Age : |
20.12.1985 |
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Date of Appointment : |
20.10.2010 |
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DIN No.: |
02504124 |
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Name : |
Venkatraman Mohan |
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Designation : |
Director |
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Address : |
Waman 46/3, Garodia Nagar, Ghatkopar (East),
Mumbai – 400 077, Maharashtra, India |
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Date of Birth/Age : |
01.06.1951 |
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Date of Appointment : |
11.09.2012 |
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DIN No.: |
00071517 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
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No. of Shares |
|
Vascon Engineers Limited, India |
|
12689 |
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Ajay Bhalchandra Mehta with Mamta Mehta |
|
353 |
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Mamta Ajay Mehta with Ajay Mehta |
|
353 |
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Prasant Vishnu Kavale with Harsha |
|
705 |
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Total |
|
14100 |
AS ON 05.02.2014
|
Names of Allottees |
|
No. of Shares |
|
Ajay Bhalchandra Mehta |
|
415 |
|
Prasant Vishnu Kavale |
|
415 |
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Total |
|
830 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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|
|
Bodies
corporate |
|
90.00 |
|
Directors
or relatives of directors |
|
10.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing of clean room
partitions and panels, and pharmaceutical equipment, it also provides turnkey
services in setting up clean rooms to the pharmaceutical, biotech,
healthcare, chemical, active pharmaceutical ingredients, and other allied
industries. |
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Products/ Services : |
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Exports : |
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Products : |
·
Finished Goods |
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Countries : |
·
Bahrain ·
Bangladesh |
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Imports : |
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Products : |
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Raw Materials |
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Countries : |
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USA ·
Germany ·
Hong Kong ·
China |
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Terms : |
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Purchasing : |
Depend |
PRODUCTION STATUS (AS ON 31.03.2011):
|
Particulars |
Actual
Production |
|
Double Door |
8876 |
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Single Door |
12687 |
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Panels |
102139 |
GENERAL INFORMATION
|
Suppliers : |
·
Sonali Telecom ·
EMP Innovation |
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Customer: |
End Users and OEM’s
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No. of Employees : |
700 (Approximately) |
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Bankers : |
·
Axis Bank Limited, Trishul, 3rd Floor, Opposite Samartheshwar
Temple, Law Garden Ellisbridge, Ahmedabad – 380 006, Gujarat, India ·
HDFC Bank Limited ·
Axis Bank Limited, Showroom No.45, 46, 47, Fauji
Complex, Sai Road, District Solan, Baddi – 173 205, Himachal Pradesh, India ·
Bank of Maharashtra, Lokmangal, 1501, Shivaji
Nagar, Pune – 411 005, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Chandrashekhar Iyer and Company Chartered Accountants |
|
Address : |
14, Anuroop CHS Limited, Samatanager, Jekegram P.O., Thane – 400 606,
Maharashtra, India |
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PAN No.: |
AAJPI9814M |
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Holding Company: |
Vasco Engineers Limited |
CAPITAL STRUCTURE
AFTER 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
14930 |
Equity Shares |
Rs.10/- each |
Rs.0.149
million |
|
|
|
|
|
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
14100 |
Equity Shares |
Rs.10/- each |
Rs.0.141
million |
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|
|
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 |
0.141 |
0.141 |
0.141 |
|
(b) Reserves & Surplus |
727.154 |
640.703 |
561.706 |
|
(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) |
727.295 |
640.844 |
561.847 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
167.732 |
200.692 |
0.568 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
12.428 |
8.350 |
9.086 |
|
Total Non-current
Liabilities (3) |
180.160 |
209.042 |
9.654 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
182.401 |
176.340 |
352.368 |
|
(b)
Trade payables |
185.351 |
246.398 |
95.474
|
|
(c)
Other current liabilities |
431.071 |
254.029 |
159.331
|
|
(d) Short-term
provisions |
11.728 |
1.231 |
0.000
|
|
Total Current
Liabilities (4) |
810.551 |
677.998 |
607.173 |
|
|
|
|
|
|
TOTAL |
1718.006 |
1527.884 |
1178.674 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
448.687 |
431.913 |
440.016 |
|
(ii)
Intangible Assets |
1.650 |
1.017 |
1.225 |
|
(iii)
Capital work-in-progress |
21.148 |
5.284 |
1.752 |
|
(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) |
15.726 |
10.712 |
8.226 |
|
(d) Long-term Loan and Advances |
25.234 |
50.006 |
1.891 |
|
(e) Other
Non-current assets |
11.466 |
22.183 |
1.596 |
|
Total Non-Current
Assets |
523.911 |
521.115 |
454.706 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
1.500 |
1.500 |
|
(b)
Inventories |
169.927 |
154.130 |
90.557
|
|
(c)
Trade receivables |
718.753 |
737.286 |
474.590
|
|
(d) Cash
and cash equivalents |
145.640 |
48.695 |
45.178
|
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
159.775 |
65.158 |
112.143 |
|
Total
Current Assets |
1194.095 |
1006.769 |
723.968 |
|
|
|
|
|
|
TOTAL |
1718.006 |
1527.884 |
1178.674 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross
Receipts/ Turnover (Including other income) |
2127.766 |
1685.567 |
1410.684 |
|
|
|
TOTAL |
2127.766 |
1685.567 |
1410.684 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1957.832 |
1495.748 |
1182.113 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
169.934 |
189.819 |
228.571 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
67.202 |
63.308 |
65.633 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
102.732 |
126.511 |
162.938 |
|
|
|
|
|
|
|
|
|
|
TAX |
24.986 |
47.514 |
28.371 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
83.451 |
78.997 |
134.567 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
624.172 |
545.175 |
657.276 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
0.000 |
0.000 |
199.994 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
33.217 |
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
13.457 |
|
|
BALANCE CARRIED
TO THE B/S |
707.623 |
624.172 |
545.175 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
640.248 |
152.773 |
40.399 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
5918.51 |
5602.62 |
9543.76 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.92 |
4.69 |
9.54
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.11 |
8.37 |
13.94
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.20 |
0.29
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.48 |
0.59 |
0.63
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.64 |
1.48 |
1.19
|
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 |
0.141 |
0.141 |
0.141 |
|
Reserves & Surplus |
561.706 |
640.703 |
727.154 |
|
Net worth |
561.847 |
640.844 |
727.295 |
|
|
|
|
|
|
Long-term borrowings |
0.568 |
200.692 |
167.732 |
|
Short term borrowings |
352.368 |
176.340 |
182.401 |
|
Total borrowings |
352.936 |
377.032 |
350.133 |
|
Debt/Equity ratio |
0.628 |
0.588 |
0.481 |
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) |
|
Total Income |
1410.684 |
1685.567 |
2127.766 |
|
|
|
19.486 |
26.234 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
1410.684 |
1685.567 |
2127.766 |
|
Profit |
134.567 |
78.997 |
83.451 |
|
|
9.54% |
4.69% |
3.92% |
LOCAL AGENCY FURTHER INFORMATION
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
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 |
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 |
10346153 |
21/02/2012 |
50,000,000.00 |
BANK OF MAHARASHTRA |
LOKMANGAL 1501, SHIVAJI
NAGAR, PUNE, MAHARASHTRA |
B36523488 |
|
2 |
10253639 |
22/05/2013 * |
715,000,000.00 |
AXIS BANK LIMITED |
TRISHUL, 3RD FLOOR,
OPPOSITE SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT -
380006, INDIA |
B78670726 |
|
3 |
10253640 |
22/05/2013 * |
715,000,000.00 |
AXIS BANK LIMITED |
TRISHUL, 3RD FLOOR,
OPPOSITE SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT -
380006, INDIA |
B78688603 |
|
4 |
10253642 |
28/09/2010 |
100,000,000.00 |
AXIS BANK LTD. |
SHOWROOM NO. 45, 46, 47, FAUJI
COMPLEX, SAI ROAD, DISTRICT SOLAN, BADDI, HIMACHAL PRADESH - 173205, INDIA |
A98921968 |
|
5 |
10178898 |
18/08/2009 |
3,000,000.00 |
DIRECTOR OF INDUSTRIES
THROUGH DY. DIRECTOR OF INDUSTRIES |
SINGLE WINDOW CLEARANCE AGENCY,
DEPARTMENT OF INDUSTRIES, BADDI, HIMACHAL PRADESH - 173205, INDIA |
A70034095 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Inter
Corporate Deposits |
|
|
|
Vascon
Engineers Limited |
136.733 |
169.300 |
|
Okasa
Private Limited |
0.199 |
0.199 |
|
H
S R Associates |
18.100 |
18.100 |
|
A
M R Associates (Renewal
after 2 years, Rate of interest between 7% to 11%) |
12.700 |
12.700 |
|
Total
|
167.732 |
200.299 |
NOTE:
The registered office of the company has been shifted from Ground Floor,
Building No.14, Village Hariyalli, L.B.S. Marg, Vikhrolii, Mumbai – 400 083,
Maharashtra to the present address w.e.f. 17.04.2009.
CONTINGENT LIABILITIES (As on 31.03.2013)
Contingent Liability not
provided for in respect of:
i.
Income
Tax Rs. NIL (Liability of Rs.40.122 millions raised during the year has been
adjusted against the refund of Assessment Year 2009-10).
ii.
The
above Rs.40.122 millions represents claims where the company has filed appeals
and expects a favourable outcome, based on decision in earlier assessment year.
FIXED ASSETS:
Tangible Assets
·
Factory Plot
·
Buildings
·
Leasehold Improvement
Building
·
Leasehold Improvement
Electric Installation
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Computer
·
Office Equipment
Intangible Assets
·
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.60.47 |
|
|
1 |
Rs.100.43 |
|
Euro |
1 |
Rs.79.40 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
46 |
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.