MIRA
INFORM REPORT
|
Report Date : |
02.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
KAMANI OIL INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
24.10.2002 |
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|
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Com. Reg. No.: |
11-137681 |
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Capital
Investment / Paid-up Capital : |
Rs. 127.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15140MH2002PTC137681 |
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|
|
|
PAN No.: [Permanent Account No.] |
AACCK4395B |
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|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Subject is engaged in the business of refining of crude
edible oil and manufacturing of Vanaspati, Bakery Shortenings, and specialty
fats and is also engaged in trading of various edible oil products |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2900000 |
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|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The company is continuously incurring losses from its two years of
operations however the rating takes into consideration the company
established market position in the edible oils industry and its above-average
financial risk profile marked by healthy net worth and comfortable gearing. 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 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
25.08.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating (A3+) |
|
Rating Explanation |
Moderate degree of safety. It carry high credit risk. |
|
Date |
25.08.2014 |
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 (91-22-28478811)
LOCATIONS
|
Registered Office : |
Pooran Asha Building Ground Floor, 317 Narsi Natha Street, Mumbai –
400009, Maharashtra, India |
|
Tel. No.: |
91-22-28478811 |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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Administrative Office : |
Chandavali Estate, Saki Vihar Road, Saki Naka, Mumbai – 400072, Maharashtra,
India |
|
Tel. No.: |
91-22-39970100 |
|
|
|
|
Factory : |
Honda Village, Takai Adoshi Road, Post Sajgaon, Khalapur, Khopoli
Raigad – 410203, Maharashtra, India |
|
Tel. No.: |
91-2192-305305 / 2192-305300 |
|
|
|
|
Branches : |
Located at ·
Pune ·
Nagpur ·
Udaipur ·
Hyderabad ·
Ahmedabad ·
Tamilnadu |
DIRECTORS
As on 29.08.2012
|
Name : |
Mr. Tarachand Bodaram Chawla |
|
Designation : |
Managing Director |
|
Address : |
87, Jivan Niwas, 3rd Floor, A G K Road, Worli Sea Face, Worli,
Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
17.12.1939 |
|
Date of Appointment : |
22.07.2014 |
|
PAN No.: |
AABPC1545R |
|
DIN No.: |
00763180 |
|
|
|
|
Name : |
Mr. Ramesh Ghanshamdas Parwani |
|
Designation : |
Director |
|
Address : |
A-203, Sai Suman Chs. Limited, Ambadi Road, Vasia East, District
Thane, Vasia – 401208, Maharashtra, India |
|
Date of Birth/Age : |
30.10.1940 |
|
Date of Appointment : |
22.07.2014 |
|
PAN No.: |
AAFPR5454C |
|
DIN No.: |
02626212 |
|
|
|
|
Name : |
Mr. Rajasekar Ramaraj |
|
Designation : |
Director |
|
Date of Appointment : |
18.02.2012 |
|
DIN No.: |
00090279 |
|
|
|
|
Name : |
Mr. Nandlal Hassanand Chawla |
|
Designation : |
Director |
|
Address : |
4A, Jivan Niwas, 87, Worli Sea Face, Mumbai 400030, Maharashtra,
India |
|
Date of Birth/Age : |
09.06.1939 |
|
Date of Appointment : |
24.10.2002 |
|
PAN No.: |
AABPC1546N |
|
DIN No.: |
00763037 |
|
|
|
|
Name : |
Mr. Vinay Tarachand Chawla |
|
Designation : |
Director |
|
Address : |
3A, Jivan Niwas, 87, Worli Sea Face, Mumbai 400030,
Maharashtra, India |
|
Date of Birth/Age : |
19.06.1976 |
|
Date of Appointment : |
24.10.2002 |
|
PAN No.: |
ABOPC7671E |
|
DIN No.: |
00763078 |
|
|
|
|
Name : |
Mr. Prakash Nandlal Chawla |
|
Designation : |
Director |
|
Address : |
4A, Jivan Niwas, 87, Worli Sea Face, Mumbai 400030,
Maharashtra, India |
|
Date of Birth/Age : |
21.12.1963 |
|
Date of Appointment : |
24.10.2002 |
|
PAN No.: |
AABPC2796E |
|
DIN No.: |
00763147 |
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|
|
|
Name : |
Mrs. Sangeeta Purushottam |
|
Designation : |
Director |
|
Date of Appointment : |
18.02.2012 |
|
DIN No.: |
01953392 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.08.2012
|
Names of Shareholders
(Equity Shares) |
|
No. of Shares |
|
Tarachand B. Chawla |
|
107005 |
|
Nandlal H. Chawla |
|
93425 |
|
Prakash N Chawla |
|
104356 |
|
Vinay T. Chawla |
|
294819 |
|
Geeta N. Chawla |
|
25452 |
|
Nandlal H. Chawla (Karta of Nandlal H Chawla HUF) |
|
2121 |
|
Jaya P. Chawla |
|
23331 |
|
Prakash N Chawla (Karta of Prakash N Chawla HUF) |
|
23331 |
|
Devendra P. Chawla |
|
21210 |
|
Samrath P. Chawla |
|
21210 |
|
Sunil N. Chawla |
|
106477 |
|
Karuna S. Chawla |
|
23331 |
|
Sunil N. Chawla (Karta of Mr. Sunil N. Chawla HUF) |
|
23331 |
|
Harshvardhan S. Chawla |
|
21210 |
|
Pranav S. Chawla |
|
21210 |
|
Joyti T. Chawla |
|
106050 |
|
Tarachand B. Chawla (Karta of Tarachand B. Chawla HUF) |
|
2121 |
|
Bodaram Sons |
|
10 |
|
|
|
1020000 |
As on 29.08.2012
|
Names of
Shareholders (Preference Shares) |
|
No. of Shares |
|
International Finance Corporation, USA |
|
2550000 |
|
Total |
|
2550000 |
As on 29.08.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of refining of crude edible
oil, manufacturing of Vanaspati, Bakery Shortenings, and specialty fats and
is also engaged in trading of various edible oil products |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||
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|
||||||||||||||||||
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Bankers : |
·
Bank of India ·
The Ratnakar Bank Limited, Shahupuri,
Kolhapur, Vypari Peth, Kolhapur - 416001, Maharashtra, India |
||||||||||||||||||
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||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
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|
Banking
Relations : |
--- |
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|
|
|
Auditors : |
|
|
Name : |
V. Sankar Aiyar and Company Chartered Accountants |
|
Address : |
2-C, Court Chambers, 35, New Marine Lines, Mumbai – 400020,
Maharashtra, India |
|
PAN No.: |
AAAFV0781D |
|
|
|
|
Associate : |
· Chawla Brothers Private Limited ·
Shiv Sharan Realtors Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs.150.000 Millions |
|
2550000 |
Preference Shares |
Rs.100/- each |
Rs.255.000 Millions |
|
|
Total |
|
Rs.405.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1020000 |
Equity Shares |
Rs.100/- each |
Rs.102.000 Millions |
|
2550000 |
Preference Shares |
Rs.100/- each |
Rs.255.000 Millions |
|
|
Total |
|
Rs.357.000 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 |
357.000 |
357.000 |
357.000 |
|
(b) Reserves & Surplus |
392.400 |
406.600 |
419.018 |
|
(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) |
749.400 |
763.600 |
776.018 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
161.200 |
237.400 |
383.137 |
|
(b) Deferred tax liabilities (Net) |
31.000 |
51.800 |
69.268 |
|
(c) Other long term liabilities |
5.900 |
2.700 |
7.337 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
198.100 |
291.900 |
459.742 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
199.134 |
|
(b) Trade payables |
1444.800 |
1223.400 |
1118.093 |
|
(c) Other current
liabilities |
168.600 |
156.900 |
156.185 |
|
(d) Short-term provisions |
10.100 |
5.100 |
29.794 |
|
Total Current Liabilities (4) |
1623.500 |
1385.400 |
1503.206 |
|
|
|
|
|
|
TOTAL |
2571.000 |
2440.900 |
2738.966 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
689.700 |
773.200 |
839.810 |
|
(ii) Intangible Assets |
2.400 |
0.300 |
0.000 |
|
(iii) Capital
work-in-progress |
1.500 |
0.000 |
0.546 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.100 |
0.100 |
0.066 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
41.800 |
32.100 |
9.703 |
|
(e) Other Non-current assets |
26.300 |
26.200 |
33.302 |
|
Total Non-Current Assets |
761.800 |
831.900 |
883.427 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1014.200 |
925.300 |
1261.528 |
|
(c) Trade receivables |
404.600 |
423.600 |
437.336 |
|
(d) Cash and cash
equivalents |
361.100 |
219.500 |
111.050 |
|
(e) Short-term loans and
advances |
17.900 |
24.400 |
41.805 |
|
(f) Other current assets |
11.400 |
16.200 |
3.820 |
|
Total Current Assets |
1809.200 |
1609.000 |
1855.539 |
|
|
|
|
|
|
TOTAL |
2571.000 |
2440.900 |
2738.966 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9423.047 |
8982.034 |
7269.211 |
|
|
|
Other Income |
56.384 |
23.383 |
15.313 |
|
|
|
TOTAL |
9479.431 |
9005.417 |
7284.524 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
9412.053 |
8922.922 |
7052.088 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
9412.053 |
8922.922 |
7052.088 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
67.378 |
82.495 |
232.436 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
101.362 |
116.286 |
128.594 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(33.984) |
(33.791) |
103.842 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(19.823) |
(21.350) |
60.387 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(14.161) |
(12.441) |
43.455 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
249.003 |
261.444 |
217.989 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
234.842 |
249.003 |
261.444 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
4771.800 |
4699.400 |
4330.534 |
|
|
|
Capital Goods |
0.300 |
0.500 |
0.000 |
|
|
TOTAL IMPORTS |
4772.100 |
4699.900 |
4330.534 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(3.97) |
(3.48) |
42.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(0.15) |
(0.14) |
0.60 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.36) |
(0.38) |
1.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.32) |
(1.38) |
3.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05) |
(0.04) |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.22 |
0.31 |
0.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11 |
1.16 |
1.23 |
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 |
357.000 |
357.000 |
357.000 |
|
Reserves & Surplus |
419.018 |
406.600 |
392.400 |
|
Net worth |
776.018 |
763.600 |
749.400 |
|
|
|
|
|
|
long-term borrowings |
383.137 |
237.400 |
161.200 |
|
Short term borrowings |
199.134 |
0.000 |
0.000 |
|
Total borrowings |
582.271 |
237.400 |
161.200 |
|
Debt/Equity ratio |
0.750 |
0.311 |
0.215 |
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 |
7269.211 |
8982.034 |
9423.047 |
|
|
|
23.563 |
4.910 |
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 |
7269.211 |
8982.034 |
9423.047 |
|
Profit |
43.455 |
(12.441) |
(14.161) |
|
|
0.60% |
(0.14%) |
(0.15%) |
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 |
FINANCIAL PERFORMANCE
The company has grown in sales volume by about 11% even in the face of continued sluggishness in the overall economy. The processed food segment is showing a healthy trend of recovery. The company is actively working on increasing the awareness of the customers about the health benefits of specialty oils and fats and thereby increase the market share for high value added products. We have launched new products for bakery and fried snacks and the products are well received in the market. The company has firm plans to build up on the first mover advantage in the market of nutritional and health centric Oils and Fats, and reap the benefits of the same in the times to come. The newly launched Rice Bran Oil brand “Riso” has won the “Product of the year” award and the health benefits of the oil are widely acclaimed. We plan to position Riso as a premium brand in the years to come. Our efforts to partner with our institutional customer in creating a wow factor in their products for the end consumer is continuing relentlessly. The company has set a target to excel in quality of the products supplied and services offered to our esteemed customers and achieve customer delight in each account.
The year has been a year of learning for the company. The effect of tremendous fluctuation in the price of Dollar has been contained and the result is evident in the reduction of the forex losses / expenses. However the company has been facing a difficult time in ameliorating the effect of the volatility in the commodity prices. This has resulted in the healthy margins generated by the various marketing divisions of the company being offset by the commodity price fluctuations. However the company has drawn up plans to contain the vagaries of commodity price fluctuations. The factory has overcome the problems of breakages in power supply thereby increasing the efficiency of the plant, and availability of the finished goods for the customers.
The R&D efforts of the company are continuing with renewed gusto and we are aiming to create blockbuster products keeping in mind the health factors and functionalities of the oils and fats. Company’s R&D Centre one of the very few which are approved by DSIR, New Delhi.
The Edible Oil market is approaching a regime of stable prices and the company is confident of making the most of the opportunities in the market and earning good margins. The company’s prospects in the ensuing year look brilliant and we are sure that the coordinated efforts of all the divisions will pay rich dividends.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Loans and advances from directors |
52.000 |
28.600 |
|
Loans and advances from others |
63.700 |
73.000 |
|
Total |
115.700 |
101.600 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10472221 |
17/12/2013 |
600,000,000.00 |
THE RATNAKAR BANK LIMITED |
SHAHUPURI,KOLHAPUR, VYPARI PETH, KOLHAPUR, MAHARASHTRA - 416001, INDIA |
B94265394 |
|
2 |
10121127 |
23/01/2012 * |
3,152,500,000.00 |
BANK OF INDIA |
NARIMAN POINT LARGE CORPORATE BRANCH, 92 - 93, FREE PRESS HOUSE, 9TH FLOOR,215, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B34527580 |
|
3 |
10121128 |
30/01/2012 * |
3,152,500,000.00 |
BANK OF INDIA |
MANDVI BRANCH , KANMOOR HOUSE ,, 281/287 NARSI NATHA STREET,, MUMBAI, MAHARASHTRA - 400009, INDIA |
B34528646 |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
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 : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
4 |
|
--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 |
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 |
|
44 |
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.